UserWay’s Executive Leadership Team at Their Office (company pic)
UserWay, an Israeli firm offering digital accessibility AI technology, is getting bought out by the American company Level Access, a provider of digital accessibility solutions, for $98.7 million.
UserWay is currently a publicly traded company offered on the Tel Aviv Stock Exchange. Under the terms of the merger agreement, UserWay shareholders will receive $21.06 (approximately 76 Shekels) per share in cash, representing a premium of 17% over the fully diluted share price as of market close on December 28th, 2023, and 22% over the Company’s last thirty-day average fully diluted share price.
Digital accessibility AI technology uses artificial intelligence (AI) to help make digital content more accessible to people with disabilities. This can include people with visual impairments, hearing impairments, mobility impairments, cognitive impairments, and other disabilities.
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.
AI can be used to automatically generate captions for videos and transcripts for audio recordings. This can make it easier for people who are deaf or hard of hearing to access the content.AI can also be used to automatically generate alternative text (alt text) for images. Alt text is a short description of an image that is read by screen readers, which are used by people who are blind or have low vision.
Founded in 1997, Level Access boasts that its digital accessibility solution combines the “most robust platform and deepest bench of accessibility expertise to help organizations create accessible and legally compliant websites, mobile apps, software, and other technology.” The firm has supported the accessibility initiatives of thousands of organizations, from Fortune 500 enterprises to public sector and government agencies, educational institutions, and private sector businesses of all sizes.
“Allon and the UserWay team have developed incredible automated remediation technologies that enable organizations to move faster in their digital accessibility programs,” said Tim Springer, CEO and Founder of Level Access. “This combination, with our full-service digital accessibility platform, will enable us to bring powerful new tools to our customers and positions us with a robust solution set for organizations of any size and maturity.”
Founded in 2016 by CEO Allon Mason – also the company’s largest current shareholder – UserWay boasts that it enables “equal access to online experiences on millions of websites, by making it easy for teams to prioritize accessibility.” From design to deployment, the firm “continuously improves the compliance of websites, apps, and digital documents and break down usability barriers for people with different abilities”
UserWay provides solutions for every phase of the digital accessibility journey. These range from automated AI-powered products, tools that empower developers, all the way to fully managed enterprise-grade offerings – and everything in between.
“We’ve long admired the Level Access team and their integration of technology, service, and subject matter expertise,” said Allon Mason, CEO and Founder of UserWay. “This transaction delivers compelling value to our shareholders and provides our team with a great opportunity to bring our technologies to a broader market. We are unified by a shared mission to make the world more accessible, and we believe this partnership will increase and accelerate what we are able to accomplish.”
