Speedvalue Ltd (TASE:SPDV) signed an agreement to acquire a 60% stake in Develop Soft OOD from H.E. Ivo Yotov and Amit Bohansky for ILS 4.1 million on January 26, 2023. The consideration comprises of a cash payment of NIS 3.9 million and a grant of NIS 184,615 non-tradable options. Upon acquisition of 60% stake, Speedvalue will have an option to acquire remaining 40% stake in Develop Soft.

The Develop Soft will be managed by the Speedvalue's CEO, Tali Shem-Tov. The transaction is subject to the existence of conditions precedent, which include, among other things, the absence of change materially to the detriment, as well as receiving the approval of the Tel Aviv Stock Exchange Ltd.