Motomova, Inc. (OTC: MTMV), a leading developer, manufacturer, and supplier of testing solutions for electric motors, announced today that it has completed its acquisition of Skillr, Inc., to bolster its suite of software-as-a-service products.
Headquartered in New York, New York, Motomova owns and operates MEA Testing Systems Ltd. (“MEA”), an Israeli industrial technology company with corporate offices in Netanya, Israel, and manufacturing facilities worldwide.
MEA is a developer, assembler, and distributor of testing equipment for the global electric motor industry. Since 1998, MEA has provided testing solutions with which to quality check electric motors used in automotive applications, manufacturing and industrial applications, home appliances, robotics, and for research and development laboratories. MEA’s prestigious clients have included Mitsubishi Electric, Rolls-Royce, Siemens, Kawasaki, Thyssenkrupp, GE, Huawei, and Tata Motors, among others globally.
Skillr, Inc. (“Skillr”), founded in 2020 and headquartered in New York, New York is a venture-backed commercial stage developer of mobile applications for consumer and enterprise clients.
Under the terms of the Skillr acquisition, Motomova agreed to issue approximately 31.86 million shares of common stock, 13.80 million warrants, and 7.29 million pre-funded warrants to Skillr’s shareholders. Pursuant to the terms of acquisition, Motomova’s chief executive assumed the role of chief executive of Skillr.
Menny Shalom, Motomova’s chairman and chief executive, stated, “We have executed the acquisition of Skillr as part of our 2024-2025 plan focused on capital formation and product line expansion into SaaS, driven by the demands for innovative solutions made by our clients worldwide.”
Skillr’s founder and now former chief executive, Cassel Shapiro, CFA, stated, “Skillr’s shareholders and I are excited to join Motomova in its mission to deliver innovative testing solutions to industrial technology clients globally.”
Menny Shalom is a dual US-Israel attorney and serial entrepreneur based in Tel Aviv, Israel. Menny has incubated numerous technology ventures in addition to having invested in, or purchased and operated, a multitude of software, agriculture, industrial, and defense technology businesses in Israel and abroad.
About Motomova
Motomova is the parent company of MEA Testing Systems Ltd. Founded in 1998, MEA is a leader in the development of testing solutions, instruments, and simulations for electric motors found in automotive, aerospace, consumer and other industrial applications. MEA has combined science, engineering, and decades of industry experience to meet the needs of over a thousand customers around the world.
MEA’s solutions integrate unique dynamic and static capabilities with traditional dynamometer methods, creating a custom approach to meeting the needs of each customer. Its comprehensive range of services includes project consulting, specialist deployment, system integration, in-house testing, custom solutions, and contracted measurements.
