Pango News
8 articles
growth-negative
במשך שנים חברות טכנולוגיה התמזגו ללא הפרעה, ואז בלמו תחרות ופגעו בצרכנים ■ הרגולטורים הבינו באיחור את הדינמיקה בעולם הדיגיטלי ואת הדרכים המתוחכמות שבהן חברות מתעצמות דרך מיזוגים ■ נראה שרשות התחרות בישראל הבינה את הבעיה, ולכן התנגדה לעסקת פנגו־גט
The article discusses the cancellation of the merger between Gett and Pango, highlighting a broader issue in the technology sector where companies have historically merged without much interference, leading to reduced competition and consumer harm. Regulators, including the Israeli Competition Authority, are now recognizing these dynamics and are opposing such mergers. This specific merger cancellation reflects a growing awareness and intervention by regulators to prevent monopolistic practices in the digital world. The article also touches on other technology-related topics, including AI advancements and investments by major tech companies.
Acquired-by
growth-negative
Facing antitrust resistance, the mobility-tech deal unravels after a year of regulatory hurdles.
Pango has withdrawn its application to merge with Gett after the Israeli Competition Authority raised significant concerns about the potential impact on market competition. The $175 million deal, signed a year ago, faced opposition due to fears that it would harm competitors like Cellopark and Yango. Despite discussions with the Authority to find conditions that might allow the merger, the proposal was ultimately rejected. Pango, which operates in the parking services market, and Gett, a leader in taxi and delivery services, were concerned about the extensive consumer data held by both companies. The decision to withdraw was made after a year of regulatory scrutiny, with little chance of approval.
Acquired-by
growth-positive
Pango Offices - Petah Tikva | Office Snapshots
Pango, an Israeli technology company known for its car and road services, has relocated to a new headquarters in Petah Tikva. The new office, designed by Hagai Nagar Architects, is located on an entire floor within the BSR City project, marking Pango as the inaugural major occupant of the expansive four-office-building complex. The workspace is designed to balance private and public areas, enhancing productivity and providing an experiential environment. The office design includes a panoramic sea view, a vibrant cafeteria, and engaging common areas.
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growth-negative
Pango in talks to buy Gett
Parking payments app Pango is in negotiations to acquire taxi hailing app Gett. The deal is believed to be taking place at a valuation of $150-160 million, which is a significant decline from Getts previous valuations. This includes a 24% decline from the companys valuation in 2023 and a nearly 80% decline from its valuation in a public offering that was cancelled due to the war in Ukraine. Getts largest shareholder, Swedish investment fund VNV Global, attributes a fair value of $160 million to the company.
Acquisition
growth-positive
פנגו תאפשר תשלום לטעינת רכב חשמלי ישירות דרך האפליקציה
Israeli company Pango has partnered with Enova-EVedge, a leading provider of public charging stations for electric vehicles, to allow direct payment through the Pango app at over 200 Enova-EVedge charging stations across the country. This move is part of Pangos ongoing efforts to provide smart solutions for its customers with electric vehicles and aims to consolidate various uses into a single app. The service is expected to significantly simplify the charging process for electric vehicle owners.
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growth-positive
Harel Insurance acquires a stake in parking app Pango
Yaron Kastenbaum’s Fund and Harel Insurance have acquired 44% of Pango at a value of NIS 550 million. Pango is a smart transportation and insurance company with over 2 million users. Last year, Pango signed an agreement with Menora Mivtachim to establish a digital insurance agency called Pango Insurance.
Acquisition
growth-positive
Parking By Phone acquires Pango USA
Parking By Phone has announced the acquisition and merger of Pango USA, LLC. The agreement includes the transfer of customer contracts, intellectual property, daily operations, software, brand name, and employees. Parking By Phone plans to make major investments in Pangos software, marketing, and employees. The company is expanding its physical presence in the USA, including an office in Philadelphia. Parking By Phone is a Mobile FinTech company that provides mobile solutions and services for parking payment, tax payment, enforcement, mobile ticketing, transit payment, and local advertising. Pango, which operates in more than 20 cities in the US, will help Parking By Phone enter the North American market. The acquisition is expected to provide new value-added services to customers.
AcquisitionCustomers
growth-positive
Parking app co Pango raises $6.5m
Pango Mobile Parking Ltd. has raised $6.5 million in new funding led by Bearing Capital Ltd. The company plans to use the proceeds to develop next-generation smart parking applications and facilitate an expedited expansion platform across North America. Pangos technology, which was invented in 1996 and obtained a US patent, has already been launched in multiple countries and has over 800,000 users. The companys app offers various parking services, including on-street/municipal cellular parking, private garages, parking garage locator services, valet parking, and location-based coupons.
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