Two days ago, the Israel Securities Authority (ISA) raided the offices of WhiteSmoke Software Ltd. (TASE: WSMK). The company's announcement to the Tel Aviv Stock Exchange (TASE) said, "The company is giving notice that two days ago, ISA investigators came to the company offices and conducted a search. Documents were taken, and the company CEO was questioned. At this stage, the company is unable to provide additional particulars about the investigation."
WhiteSmoke has a number of Internet ventures, including online advertising. Among other things, it has invested in the Kibo app a brand name keyboard in various languages, mainly for sports clubs and other brand names.
The company's shareholders include Evolution Venture Capital Fund, Yelin Lapidot Mutual Funds, Barak Capital, Dan Tocatly, Itay Meroz, and Dr. Ram Vromen.
Another shareholder is Yair Goldfinger, one of the group of entrepreneurs behind one of Israel's first major and most famous exits - Mirabilis, which created the ICQ app.
A question that will certainly be asked is why the company reported the investigation from two days ago only today. The ISA has also not yet published anything about the investigation, or any particulars about the substance of the suspicions being investigated.
As of web posting, WhiteSmoke's share price was down 10% in today's trading.
Published by Globes [online], Israel business news - www.globes-online.com - on March 9, 2016
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