Valued at 100 Million Shekels: Leading Israeli Company Sold

Michpal Technologies, part of the Formula Group, has announced a new strategic acquisition: it will purchase 70% of Mekano for approximately 66 million shekels. The deal values Mekano at about 100 million shekels.

According to the company's announcement, the transaction includes a mechanism for contingent consideration based on Mekano's performance in 2026, as well as mutual options to purchase the remaining 30% of holdings in the future.

Mekano is a private company providing cloud-based technological solutions for time management, attendance, and human resources. Its platform is used by over 3,500 clients, ranging from large organizations to small and medium-sized businesses.

Tami Ohana-Kol, CEO of Michpal Technologies, stated:

"The acquisition of Mekano is another strategic move in expanding Michpal's portfolio of solutions in the world of human capital management. Mekano brings with it a cloud-based platform, advanced technological capabilities, including the expansion of AI solutions for clients, alongside an infrastructure of over 3,500 clients that integrate into our existing operations, and consistent growth with over 90% recurring revenue."

Gil Cohen, founder and CEO of Mekano, added:

"Our market is at a moment of change, and what we have built until today was only the beginning. With the power and synergy of being part of the Michpal Group, we will be able to bring our clients capabilities that we could not have provided alone."

Michpal Technologies operates in the fields of payroll, recruitment, attendance, pension, and human resources solutions, serving over 15,000 clients. Its operations include solutions based on cloud technologies, AI, and automation tools.