Ayalon Insurance Company Ltd (TASE:AYAL) signed an agreement to acquire WeSure Insurance Company Ltd from Wesure Global Tech Ltd (TASE:WESR) and others in a transaction valued at ILS 90.4 million on March 14, 2024. Under the terms of agreement, Ayalon Insurance is acquiring WeSure Insurance Company in exchange for the issuance of 4.6 million Ayalon shares. Ayalon Insurance is issuing 13,961 shares per share of WeSure Insurance.

The transaction is subject to additional pending conditions. Lior Porat of Gornitzky & Co. acted as legal advisor to Ayalon Insurance Company.

As of May 7, 2024, Ayalon Insurance Company shareholders approved the deal.