Shmulik Yanai Completes Third Major Exit in Two Years

Blade Ranger, a company traded on the Tel Aviv Stock Exchange, has announced a binding memorandum of understanding for the merger of its subsidiary, Anvoy Technologies, with CID HoldCo. The deal values Anvoy at approximately $65 million. This marks the third significant exit for Shmulik Yanai, brother of businessman Ofer Yanai, within the past two years.

Anvoy, controlled by Blade Ranger, operates in the United States, providing services to hotels and residential buildings through electric vehicle sharing. The company has deployed its services across about 34 locations in the U.S. Recently, Anvoy secured a contract to provide electric vehicle sharing services in a U.S. state, projected to be worth $8.1 million. This contract includes site identification, development, infrastructure setup, operational readiness, and monthly services for the electric vehicle sharing system.

Blade Ranger reported positive equity exceeding 50 million shekels in the first half of the year, prior to the potential impact of the Anvoy merger. The current deal follows two other divestitures by Blade Ranger in the last two years: the sale of DipSolar for approximately $7 million in Fineprform shares and the sale of Solar Daron for approximately $21 million in Vision Wave shares.

Shmulik Yanai, who serves as CEO and controlling shareholder of Blade Ranger, managed these transactions as part of a strategy to maximize shareholder value. He stated, "After publishing significant reports for the first half of the year, we are pleased to report the signing of a binding memorandum of understanding for another significant deal in which Blade Ranger is expected to hold approximately 53% of the merged company, subject to the completion of the deal. Anvoy intends to leverage its vehicle locations to also develop advanced autonomous taxi services."