Israeli Fintech Firm Scanovate Acquired by Prytek for Up to $100 Million
International financial infrastructure group Prytek is fully integrating the Israeli technology company Scanovate into its operations in a strategic move aimed at strengthening its global fintech market presence. The deal is structured in two phases, with Prytek making an initial payment of $50 million and an additional $50 million contingent on performance, potentially bringing the total exit value to $100 million.
Scanovate, founded in 2014 by Amir Fishman, Roi Fishman, and Irad Gilboa, specializes in advanced regulatory compliance, digital identity verification, and remote document scanning solutions. The company has demonstrated consistent profitability and generated tens of millions of dollars in revenue in recent years, serving over 250 organizations, including major Israeli banks, credit card companies, and vehicle financing entities.
The acquisition, reported by "TheMarker," also encompasses Scanovate's subsidiaries: Cellosign, which focuses on digitizing organizational processes, and ADO Technologies, providing a significant foothold in the South American market.
For Prytek, led by CEO Andrey Yeshunsky and chaired by Xavier Rolet, this acquisition deepens its investment in an aggressive acquisition strategy. The group, supported by investors like Davidson Kempner Capital Management and businessman Yakir Gabay, has previously completed substantial deals, including increasing its stake in Tipranks, acquiring assets from DTCC, and transferring hundreds of employees from HSBC. Scanovate will now lead Prytek's global customer lifecycle management (CLM) division.
