Pango, the smart mobility platform, announces an acquisition of Gett from its current shareholders VNV, Access Industries and MCI Capital for $175 million.

Following the completion of the transaction, which is subject to approval by the Israeli Competition Authority, Pango intends to retain Gett’s wider global teams and will continue to support Gett’s growth in the ride-hailing and delivery markets in Israel and the UK.

Jefferies acted as the sole financial adviser to Gett.

Jonathan Alon, CEO of Pango: “We are excited and thrilled to join Gett’s inspirational journey. Pango strongly believes in Gett as a growing and profitable company, with exceptional business potential. We highly appreciate the role that Gett has played in transforming the ride-hailing industry in Israel and abroad and the value of the people who made it happen. We have significant plans for further development of the company in its fields of expertise.”

Advertisement

Hill Wooldridge & Co

Matteo de Renzi, CEO of Gett: “We are delighted to welcome Pango as our new shareholders. Gett has made significant strides in growing from a startup to a profitable international business, and we are grateful to our shareholders VNV, Access Industries, and MCI Capital for their guidance and support over the years, as well as to our employees for their significant contribution to Gett’s success. We look forward to starting our next chapter as part of the Pango family.”