Wysure Globaltech Acquires US Insurance Firm UBIC for $900,000

Wysure Globaltech has signed a binding agreement to acquire approximately 92% of the American insurance company UBIC and its sister company URS for $900,000. The deal involves purchasing around 900,000 shares of UBIC and a similar number of units in URS, at a price of $1 per share and unit. This price is $300,000 lower than the $1.2 million initially discussed in May.

UBIC holds insurance licenses in several US states and specializes in workers' compensation insurance for businesses, covering employee injuries or illnesses sustained at work. URS provides management and claims settlement services to UBIC. As of the end of 2025, the combined assets of both companies were approximately $28.4 million, with UBIC reporting net earned premiums of about $22 million in the same year. However, UBIC incurred a net loss of roughly $4.7 million in 2025.

In addition to the $900,000 for shares and units, Wysure USA, a newly formed subsidiary, will pay $1.75 million to holders of UBIC's capital notes for their portion. Wysure has already invested $300,000 in UBIC via a convertible note and received regulatory approval from Utah. Upon completion, Wysure plans to inject an additional $10 million into UBIC to bolster its capital and reserves.

Wysure Globaltech Chairman Emil Weinshall stated that the acquisition is a significant step in expanding the company's US operations. He believes UBIC's focus on workers' compensation insurance complements Wysure Technologies' existing digital solutions for small and medium-sized businesses in the US, creating potential for growth. The company also intends to explore further mergers and acquisitions in the US and Israel.

UBIC CEO Ron Nielsen and COO Tyler Nielsen have committed to remaining in their roles for three years post-acquisition and have agreed not to compete with the acquired businesses for the same period.