An educational excursion: Mashov acquired for more than 15 million dollars
The school management and monitoring application is purchased by Priority. Co-founder and CEO of Mashov: “We never dreamed of an outing”
Hameiri, his son, and another partner own all of Mashov’s shares because he hasn’t raised any external capital, so all the money from the purchase will go to the three. Hameiri, who has served as CEO since Mashov’s inception, will continue to work at Priority and manage an education division that will be built on the basis of the acquisition.
Like many other transactions over the past two years, Covid has accelerated interest in Mashov as distance learning has become a daily reality across the world. Mashov already proposed in 2008 a distance learning function as a solution for teachers unable to be present in class.
The Mashov system, (which in Hebrew means immediate, transparency and control) began operating in 2006, but took off with the introduction of smartphones as it evolved into an app used by establishments in education to manage schools. The software was originally sold to individual schools, but a 2019 Education Ministry tender for school management software named Mashov as one of the winners, alongside apps such as Smart School, and has significantly expanded its user base. Today, Mashov is used by around 1,700 schools out of 5,000 registered with the Ministry of Education, with around one million parents and students using it daily to communicate with teachers and staff. Mashov is a profitable company with 25 employees.
Hameiri, 60, founder and CEO, with a doctorate in technology and science education from Technion, she led the famous Kadoorie school for a decade, during which she received an award for “promoting the education for tolerance and respect in a diverse society ”, an award presented to him by the President of Israel. Since 2007, Hameiri has been leading the Oranim College for Education program for principals while teaching in the school’s master’s program.
“Mashov was born during a conversation with my son who is a programmer,” Hameiri told Calcalist, “but we’re not like the 25-year-old today, we never dreamed of a date. Mashov’s first sales inquiries were received in March of this year, but I deleted these emails as I was sure they were spam. It wasn’t until the third email that I understood that it was actually TA Associates, who’s got the priority and he heard from us and decided he wanted to develop Mashov globally. ”
Hameiri shared his initial idea for the system, which originated in the 1980s, long before the advent of the Internet: “As a data lover, I wanted to organize information into a system that would help the education system, everything. by monitoring student progress. past their grades, examining attendance, behavior and positive reinforcements. Over the years in the education system, I have seen students left behind for lack of attention. When the Internet became a reality, I realized that a big change could be made. The first system I developed was originally a presence system which, over time, evolved into Mashov thanks to the demands and demands of the field. ”
Priority, which specializes in the development and management of organizational systems, plans to market Mashov to education and school systems abroad. This is the third acquisition of the company in less than a year, after having acquired a few months ago the software company EDEA, specializing in the implementation and development of information management systems and multi-channel trading. Prior to that, he also acquired Ovdimnet, which operates in the field of employee attendance management. It should be noted that all the companies acquired are managed by women entrepreneurs.
Priority is a reincarnation of the computer company Eshbal, bought by the investment fund Fortissimo Capital in 2013 for 192 million shekels (just over 60 million dollars). A year ago, Fortissimo, led by Yuval Cohen, sold 50% of the company for $ 250 million to TA Associates, which also initiated the Mashov acquisition. Priority operates in the United States, United Kingdom and Belgium, but in Israel it is considered the leading company in ERP systems for the management of small and medium-sized businesses with approximately 10,000 customers in this market. After Fortissimo’s deal, Priority replaced its CEO, and the company is now headed by Sagive Greenspan.