Thread by @tammy_sager

A bit of history on #NSOGroup…
I’m going to start with #TheFoundersGroup, #23Traders, & sadly I’m opening with an article regarding the suicide of Fred Turbide of Edmonton, Alberta, Canada…
timesofisrael.com/fleeced-by-isr…

From the 01/19/2017 article above…
“According to Israel’s corporate registry, Market Giant’s director is Eran Schindler, whose LinkedIn profile describes him as the founder and owner of *“Schindler CFO Financial Services*.” Also according to Israel’s corporate registry,…

Market Giants is owned by a company called “CFO Outsourcing Services Ltd,” which is owned by Eran Schindler together with a third company called I-TLD Management Ltd. According to the Israeli corporate registry, I-TLD Management Ltd is owned by…

Tal Dayagi, whose LinkedIn profile describes him as a partner in the same *Schindler CFO Financial Services*.

In addition, a group of Israeli startup angel investors known as #TheFoundersGroup claims in its promotional material that it provided $1.85M in seed funding…

for #23Traders. In a 2016 #TheFoundersGroup prospectus, 23Traders’ founder is named as Giora Tal, who is described as having “vast experience in setting up & operating businesses in the gaming industry.”

“A January 2010 article in The Gibraltar Magazine (page 14) describes Tal as working for the Gibraltar-based Mansion Group of online casinos. Two partners in #TheFoundersGroup, Shalev Hulio & Omri Lavie, are known for developing #spyware…

issuu.com/thegibraltarma…

that can hack into Apple products, which was subsequently reportedly used by foreign governments to attempt to crack down on journalists and dissidents.”

From 8/29/2016…#NSOGroup the company that forced Apple to make a frantic security update.”
haaretz.com/israel-news/bu…

More information in case you hit a paywall on the above Haaretz article.

citizenlab.ca/2016/08/millio…

If you wish to know more about the industry that fleeced Turbide & lead to his suicide, start at the next tweet…I will not cover it in this thread.

“The Times of Israel has been exposing Israel’s largely #fraudulent #binaryoptions in a series of articles since Mar. 2016,…

beginning with an article entitled “The Wolves of Tel Aviv,” & has estimated that the #binaryoptions industry numbers over 100 companies, most of which are fraudulent & employ a variety of ruses to steal their clients’ money.”

timesofisrael.com/the-wolves-of-…

My focus wil be on #TheFoundersGroup, Tal Dayagi, Giora Tal, Shalev Hulio, & Omri Lavie, & #NSOGroup,…
nsogroup.com/about-us/board…

#NSOGroup as originally founded in 2010, according to wiki & Novalpina Capital in 02/14/2019…during an acquisition of NSO from US based global private equity firm Francisco Partners.

novalpina.pe/nso-group-acqu…

#NSOGroup #NSO
“The buyout firm [#Novalpina] behind #Pegasus…,which last week triggered a global outcry over its use, is to be dissolved after its partners failed to resolve a bitter months-long dispute…
news.sky.com/story/pegasus-…

London-based #Novalpina Capital is to be removed as the manager of its fund, with management of its assets instead taken over by a 3rd party.
The development, which has yet to be made public, is expected to be formalised through a vote among Novalpina's fund investors…in Aug.“

“The winding-up of #Novalpina is not directly connected to the #NSOGroup scandal, but will raise questions about the future ownership & management of such a controversial business. The process to remove Novalpina as the manager of the fund is expected to take several months…”

“#Novalpina's three principals - Stephen Peel, Bastian Lueken & Stefan Kowski - had been at odds over the deployment of the remainder of its maiden fund.
As well as #NSO, Novalpina owns Laboratoire XO, a pharmaceuticals company, & Olympic Entertainment Group, a gaming business.”

#Novalpina, investors of #NSOGroup, this is their website registrant…

https://twitter.com/rocco_castoro/status/1420805534157053957

So between 2010 the establishment of #NSOGroup & present day the organizations business structure is *best* described in the .@amnesty #PegasusProject. See page 29 of the 88 page document. Be sure to read through footnotes for better understanding.

somo.nl/wp-content/upl…

The early years of #NSO #NSOGroup 2010 through 2013 with investment from Eddy Shalev, #GenesisGroup (this is prior to #FranciscoPartners) See pgs 30-31 of #PegasusProject report.

somo.nl/wp-content/upl…

“Filings in the UK show that #NSO, #NSOGroup Technologies Ltd., is the sole shareholder of a UK-based subsidiary called PFOS Technologies Ltd. (incorporated 9 May 2013), the principal activity of which was described as “marketing services for its parent company.”

“Although #NSO #NSOGroup Technologies Ltd. is a limited company incorporated & registered in Israel, “NSO Group” is also an umbrella term used by the company & the media to refer to the various related companies…, with employees, operating entities & other financial…

or holding companies around the world. The #NSOGroup trademark is owned by #NSO Group Technologies Ltd.”

#NSO #NSOGroup during the #FranciscoPartner years, 2014-2019
See Pgs 31-32 of #PegasusProject report.

somo.nl/wp-content/upl…

“Just a few years after #NSOGroup Technologies was established, California-based private equity firm #FranciscoPartners took an interest in the company. Francisco Partners’ investment in #NSO, which was reportedly approved by Israel’s Ministry of Defense, was announced Mar 2014…

It acquired a 70% stake in the company for USD $115M through its #FranciscoPartners III LP investment fund.
Several changes to #NSOGroup’s corporate structure were undertaken in the lead-up to the Francisco Partners acquisition. On 2 Dec 2013, the #NSO founders incorporated…

#NSO #NSOGroup
& registered another company in Israel called L.E.G.D. Company Ltd., the name of which was officially changed on 29 May 2016 to *Q Cyber Technologies Ltd.* (company number 514971522). L.E.G.D. Company / #QCyber Technologies Ltd. became the majority shareholder…

& beginning on 19 March 2014 (the approximate date of the Francisco
Partners acquisition), the active director of #NSOGroup Technologies Ltd.”

In 2014, #FrancisoPartners➡️ #QCyber➡️#NSO

#NSOGroup confirmed in correspondence with the authors of [the #PegasusProject] that “shareholders of #NSO Group Technologies Ltd. are #QCyber Technologies Ltd. & NSO Group Technologies Ltd. *itself*.”

In Israel a co. may hold its own shares in various instances, like a buyback.

“As a result, the full ownership rights of #NSO Group Technologies Ltd. are held by #QCyber Technologies Ltd.” It also confirmed that “#NSOGroup Technologies Ltd. & Q Cyber Technologies Ltd. develop, market & export #Pegasus & related analytical products for governmental use…

In addition, these entities provide certain sales, marketing services & other administrative support & oversight to their respective affiliates.”

How #OSY came into being in he world of #NSO under the ownership of #FranciscoPartners… See pg 33 of #PegasusProject.

somo.nl/wp-content/upl…

“OSY Technologies SARL – the first Luxembourg limited liability company to enter the structure – was incorporated on 3 Feb 2014 &…

Became the sole shareholder & active director (beginning Mar 2014) of L.E.G.D. Company [later to be renamed in 2016 as] #QCyber Technologies Ltd.
#FranciscoPartners ownership stake in #NSO #NSOGroup was channelled through OSY Holdings Ltd., a Cayman Islands exempted company…”

#OSY registered on 30 Jan 2014. “OSY Holdings Ltd. became the sole shareholder of OSY Technologies SARL when the latter was incorporated on 3 Feb 2014.”
During #FranciscoPartners’ ownership of #NSOGroup, 2 partners Andrew Kowal & Matthew Spetzler held positions as Dirs. of OSY.

#FranciscoPartners confirmed to #PegasusProject that from Mar 2014 to Mar 18, 2019 (the ‘Sale Date’), Francisco Partners III (*FP III*) owned an *indirect controlling* interest in #NSO #NSOGroup by virtue of its ownership of #OSY Holdings Ltd.,…

#OSY owned a controlling ownership interest in *Triangle Holdings, S.A.*

#FranciscoPartners stated to #PegasusProject that OSY Holdings Ltd. is a Cayman Islands exempted limited partnership that is wholly owned by *FP III*.

#OSY is the holding company through which *#FranciscoPartners III* owned its interest in #NSOGroup prior to its *complete exit* from the #NSO beginning Feb 14, 2019 to its sale date of Mar 18, 2019.

#NSO #NSOGroup

#OSY has never exported any products or services, & OSY has not engaged in any activities other than holding ownership interests in Triangle, which interests were completely disposed of Mar 18, 2019.

According to #PegasusProject…“At this time, #OSY has no assets or liabilities & is in the process of being *dissolved* in accordance with Cayman Islands law.
In sum, the structuring of the #FranciscoPartners acquisition of #NSOGroup Technologies Ltd. involved the creation of…

a Cayman Islands company in early 2014, #OSY Holdings Ltd., about which few details are publicly disclosed. #FranciscoPartners utilized OSY Holdings Ltd. to invest as sole shareholder in the new & correspondingly named OSY Technologies SARL, a Luxembourg limited liability company

#OSY Technologies SARL became the sole shareholder of an Israeli entity created at the end of 2013, L.E.G.D. Company – later renamed #QCyber Technologies Ltd. – which at the time of the acquisition became the majority shareholder of #NSO Group Technologies Ltd…

#FranciscoPartners’ investment fund thus became the ultimate *majority owner* of #NSO Group Technologies Ltd “ from 2014 to early 2019.

Expansions made to the business structure of #NSO #NSOGroup from 2014-2019 under #FranciscoPartners.