UserWay to be acquired by Level Access for $98.7m to bridge digital accessibility divide

In a significant move in the tech industry, UserWay, a leader in accessibility AI technologies, has been acquired by Level Access, a renowned provider of digital accessibility solutions, in an all-cash transaction valued at US $98.7 million. This merger marks a pivotal moment in bridging the digital disability divide, leveraging UserWay’s innovative technology and Level Access’s decades of expertise.

Acquisition Details and Shareholder Impact

Under the definitive agreement, UserWay shareholders will receive US $21.06 per share, about 76 ILS, which is a 17% premium over the share price as of December 28th, 2023, and 22% higher than the last thirty-day average. This strategic acquisition not only offers significant value to shareholders but also represents a notable milestone in digital accessibility.

Leadership Perspectives on the Merger

Allon Mason, CEO and Founder of UserWay, expressed admiration for Level Access, highlighting the merger’s potential to expand market reach and accelerate their shared mission of creating a more accessible world. Similarly, Tim Springer, CEO and Founder of Level Access, praised UserWay’s automated remediation technologies, envisioning a robust solution set for organizations of any size.

Approvals, Timing, and Future Outlook

With approvals from UserWay’s Audit Committee and Board of Directors, the transaction awaits customary closing conditions, including shareholder and regulatory approvals, and is expected to conclude in early 2024. Post-merger, UserWay will be a private entity under Level Access, continuing under its own brand with Allon Mason at the helm.

Advisory and Legal Support

Nfluence Partners and Sullivan & Worcester provided financial and legal advisory services to UserWay, while Latham & Watkins LLP and Herzog, Fox & Neeman represented Level Access.

About UserWay and Level Access

UserWay is a globally trusted provider of advanced digital accessibility software solutions, enhancing accessibility for people with disabilities across websites, apps, and digital documents. Level Access boasts a history of assisting customers in achieving compliance with various accessibility regulations, delivered through comprehensive software, services, and training.

This merger promises to transform the digital accessibility landscape, combining UserWay’s AI-powered technologies with Level Access’s full-service digital accessibility platform, paving the way for a more inclusive digital world.