Golf & Co Ltd. (TASE:GOLF) signed a memorandum of understanding to acquire Adika for ILS 40 million on January 14, 2015. Under the terms of the acquisition, Golf & Co will pay ILS 26.66 million at closing and up to additional ILS 13.34 million, which will be payable subject to Adika reaching certain earn-out milestones. Following the closing some of the individual sellers and other employees of the Adika will be issued with options exercisable into up to 25% of the shares of Adika subject to their continued employment with Adika and Adika reaching certain performance based milestones.

Ran Hai and Erez Abu of Herzog Fox Neeman acted as legal advisors to the shareholders of Adika Style Ltd.