Global AI acquires Israeli AI startup Tectu for $13 million
Global AI acquires Israeli AI startup Tectu for $13 million
The deal will see Tectu’s tech and employees integrated into a new Israeli research center for advanced AI solutions.
The Israeli company Tectu, which develops technological solutions and AI products for enterprise companies, has been acquired by Global AI, a company owned by Slovenian entrepreneur Darko Horvat. The purchase is estimated at $13 million, structured as $12 million in Global AI shares and $1 million in cash.
As part of the deal, all of Tectu’s technologies and its 70 employees will be integrated into Global AI. The company has also established a new research and development center in Israel, focusing on the development of AI solutions. It was agreed that Tectu would continue to operate as part of the partnership in Israel, with plans to invest further in its operations while expanding into other areas.
Tectu was founded in 2022 by Ari Margalit (CEO), Snir Smuzik (COO), Neta Yardeni (CPO) and Mike Margolis (CTO). Among its notable clients are the Paz Group, Pazgaz, Delek, Bank Leumi, Assuta, Weizmann Institute, as well as the Government of Ras Al Khaimah in the UAE and the Spanish company FactorialHR. The company has not raised external capital to date.
Tectu's solutions primarily focus on modernization in areas such as cloud computing, data platforms, digital services, and generative AI products for both internal organizational needs and external customer use.
Horvat has been involved in several high-profile transactions in Israel. Notably, he invested approximately $15.5 million in Nochi Dankner's Ganden company. He was also a key investor in one of Israel’s most significant transactions: the 2001 partnership acquisition of control of the IDB Group.
