Minority Shareholders Block Sale of Jango Tech Assets to CEO

Minority shareholders in the technology company Jango have successfully blocked the sale of the company's entire operations to its controlling shareholder and CEO, Ophir Herbste, for $300,000. Although a large majority of shareholders (97%) voted in favor of the deal at a shareholder meeting, it required the approval of minority shareholders due to it being a related-party transaction. All minority shareholders who participated in the vote opposed the deal, preventing its approval.

Jango had proposed selling its core activities, including its VUDRIVER and CODRIVER products, along with its long-standing WINDRIVER operations, to Herbste. Had the sale been approved, these operations and their employees would have transferred to Herbste, leaving Jango as a shell company with approximately NIS 30 million in its treasury. The company had also signaled the possibility of a significant dividend distribution following the sale.

The minority shareholders' opposition comes amid the company's ongoing weak financial performance. In the second quarter of 2026, Jango's revenue fell 7% to NIS 4 million, down from NIS 4.3 million in the same period last year. Gross profit decreased to approximately NIS 3.6 million from NIS 3.8 million year-over-year.

Despite the revenue decline, Jango significantly reduced its losses. The operating loss was NIS 1.2 million, compared to NIS 3.9 million in the second quarter of 2025, and the net loss narrowed to NIS 789,000 from NIS 3.2 million in the prior-year period. However, the company remains unprofitable, and the minority shareholders' decision leaves Jango with its current operations and the need to find an alternative path forward.