On May 26, 2026, Globes reported that Pango, the parking app owned by Milgam and a Tashi fund, had explored acquiring Tenbis but decided not to proceed after conducting due diligence on the potential deal. According to Globes, Tenbis is led by CEO Tomer Papper and has been owned by the Prosus Group since February 2025, when Prosus acquired Just Eat (Tenbis's parent company) for about $4.3 billion. According to the company's website, Tenbis serves over 3,500 businesses and works with about 7,000 restaurants, with more than 80% of Israeli tech companies among its clients. Tenbis responded to the report: "There were no such discussions. Tenbis continues operating in Israel." Pango declined to comment. According to sources involved in the process, Pango remains interested in acquiring companies with growth potential across various sectors. The same day, TheMarker reported a slightly different angle: according to the report, Tenbis is on the market for sale, with the sale process having begun in recent months. Tenbis's annual losses are estimated at "tens of millions of shekels." TheMarker reports that both Pango (controlled by Milgam) and HAAT held acquisition talks, but neither move progressed to a binding agreement. A capital-market source was quoted saying: "Wolt's entry into the corporate meal-budget market is an earthquake" — a statement directly echoing the story described in EVT-001 (the Wolt-Cibus split). Tenbis also responded to TheMarker: "Nothing happened, we continue operating in Israel."
Tenbis on the Shelf: How Two Separate Acquisition Attempts Fell Through in the Same Month
Tenbis, owned by Prosus since its February 2025 acquisition of Just Eat for about $4.3 billion, found itself at the center of two separate acquisition attempts — one from Pango, one from HAAT — neither of which materialized into a deal. Tenbis denies any talks took place.
Why it matters
The story reveals another angle on the same picture described in EVT-001: Wolt's entry into the corporate meal-budget market didn't just hurt Cibus — capital markets see it as a factor undermining the business model of the sector's biggest incumbent, Tenbis, to the point of considering a sale. Two separate acquisition attempts (Pango, HAAT) that both fell through also hint at difficulty pricing/risk-assessing an asset losing tens of millions of shekels a year, even with clear strategic interest in its customer base (80% of Israeli tech companies).
What's next
If Tenbis's sale attempts continue, Pango, HAAT, or a third player may return to the table — or, alternatively, Tenbis may pursue an independent turnaround. Tenbis's repeated denials (to both Globes and TheMarker) may reflect high reputational sensitivity around the topic among its business customers.
Verified facts
- Tenbis, led by CEO Tomer Papper, has been owned by the Prosus Group since February 2025 (the ~$4.3 billion Just Eat acquisition) (Globes)
- Tenbis serves 3,500+ businesses and about 7,000 restaurants; over 80% of Israeli tech companies are among its clients (Globes, per the company's website)
- Pango explored acquiring Tenbis but decided not to proceed (Globes)
- HAAT also held acquisition talks with Tenbis; neither move progressed to a binding agreement (TheMarker)
- Tenbis's annual losses are estimated at "tens of millions of shekels" (TheMarker)
- Tenbis denied any talks took place, to both Globes and TheMarker (both sources)