FOSTER PRESENCE IN KEY GERMAN AUTOMOTIVE MARKET ATTRACTIVE REVENUE CROSS- SELL OPPORTUNITIES STRATEGIC M&A ROADMAP UNDERWAY
LONDON–(BUSINESS WIRE)–Regulatory News:
MotorK Plc (AMS: MTRK) (“MotorK” or the “Group”), a leading European SaaS provider for the automotive retail industry, announces it has entered into exclusive negotiations to acquire WebMobil24 (“the Company”), a German software provider of stock management solutions and e-commerce platforms to automotive dealers and OEMs. MotorK and WebMobil24 are working together towards a swift completion of the transaction.
Over the past 20 years, WebMobil24 has established itself as a key player in the German automotive digital landscape thanks to its innovative offering which covers the entire spectrum of vehicle inventory management needs. The group has also developed in parallel its own used car platform, Romoto.de, which is now used by nearly 10,000 dealers across Europe.
The Company is headquartered in Frankfurt and reported revenues of c. €2 million in 2021.
ACQUISITION RATIONALE
The proposed acquisition of WebMobil24 fits perfectly into the Group’s external growth strategy and echoes the recent acquisition of Carflow in Belgium. This marks another decisive step in the development of MotorK’s European footprint:
- Accelerating in the German market: The Company’s well-established presence in Germany and its deep market knowledge provide powerful growth catalysts for MotorK’s operations in one of Europe’s most important automotive markets
- Platform for growth: The proposed acquisition significantly enhances MotorK’s reach in the DACH region and provides a platform for additional organic and acquisitive growth
- Attractive revenue cross-sell opportunities: WebMobil24’s large customer base represents a unique opportunity to sell the SparK platform and provide customers with an enriched one-stop-shop software solution
- Further increasing OEM reach: The addition of WebMobil24 trusted OEM partners deepens the enlarged Group’s presence in the European market
Marco Marlia, Co-founder and CEO of MotorK said: “I am delighted to announce that we are in exclusive negotiations with WebMobil24. The Company’s established presence in Germany and its deep knowledge of the market will be key as MotorK continues to expand into Europe’s largest market. I see great synergies and attractive opportunities as our companies come together and look forward to working closely with our future WebMobil24 colleagues.”
Volker Zweigler, Founder and CEO of WebMobil24 said: “I am excited about the potential to join forces with MotorK. Its broad geographical base, deep customer relationships and technical expertise enable us to accelerate our business as we support MotorK’s ongoing growth plans. I anticipate a bright future for the team within the MotorK group as we embark on the next stage of our journey.”
Forward-looking information / disclaimer
This press release may include forward-looking statements. Other than reported financial results and historical information, all statements included in this press release, including, without limitation, those regarding our financial position, business strategy and management plans and objectives for future operations, may be deemed to be forward-looking statements. Without limitation, any statements preceded or followed by or that include the words “targets”, “plans”, “believes”, “expects”, “aims”, “intends”, “anticipates”, “estimates”, “projects”, “will”, “may”, “would”, “could” or “should”, or words or terms of similar substance or the negative thereof, are forward-looking statements. These forward-looking statements are based on our current expectations, projections and key assumptions about future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond MotorK’s ability to control or estimate precisely, such as future market conditions, the behavior of other market participants and the actions of governmental regulators. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release and are subject to change without notice. Other than as required by applicable law or the applicable rules of any exchange on which our securities may be traded, we expressly disclaim any obligation or undertaking to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Important information
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ABOUT MOTORK PLC
MotorK (AMS: MTRK) is a leading software as a service (“SaaS”) provider for the automotive retail industry in the EMEA region, with over 400 employees and eleven offices in eight countries (Italy, Spain, France, Germany, Portugal, the UK, Belgium and Israel). MotorK empowers car manufacturers and dealers to improve their customer experience through a broad suite of fully integrated digital products and services. MotorK provides its customers with an innovative combination of digital solutions, SaaS cloud products and the largest R&D department in the automotive digital sales and marketing industry in Europe. MotorK is a company registered in England and Wales. Registered office: 124 City Road, London, EC1V 2NX – Company Registration: 9259000. For more information: www.motork.io or www.investors.motork.io.
Contacts
MotorK Investor Relations
Etienne Jacquet
+33 6 22 18 39 09
MotorK Corporate Communications
press@motork.io
