– Expands MotorK’s Presence and Customer Base in Spain
MILAN AND LONDON – 13 DECEMBER 2021 – MotorK Plc (AMS: MTRK) (“MotorK” or “the Group”), a leading SaaS provider for the automotive retail industry in the EMEA region, today announced it has completed the acquisition of Dapda S.L. (“Dapda”), a Spanish leader in providing digital tools to automotive retailers.
Founded in 2005, Dapda provides innovative solutions and services to help a broad range of automotive retailers in Spain digitise their operations and generate and manage leads. The acquisition of Dapda will further diversify MotorK’s customer base and increase its scale in Spain, a core market for MotorK. MotorK also plans to offer and roll out services from its integrated SaaS platform to Dapda customers across Iberia.
“We have long admired Dapda and are delighted that they are joining the MotorK family,” said Marco Marlia, Co-Founder & CEO of MotorK. “Dapda shares our commitment to the digitalisation of the automotive industry and together we will have an enhanced offering that will provide world class digital tools to the fast-changing automotive industry. We see great growth potential in the Spanish market and will be working closely together with our new partners to seize new opportunities in the country and meet the rising demands of our dealer and original equipment manufacturers (“OEM”) clients across the EMEA region.”
MotorK previously announced, on 8 October 2021, that the Group had entered into separate definitive agreements for the acquisition of three accretive businesses: Fidcar, Dapda, and FranceProNet. Total consideration tendered for the businesses amounts to up to €13.8 million in cash and stock, subject to certain performance-related conditions. The completion of the acquisition of Fidcar was announced on 3 December 2021, and the completion of the acquisition of FranceProNet is expected to conclude by the end of 2021 or early in 2022.
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 300 employees and eight offices in seven countries (Italy, Spain, France, Germany, Portugal, the UK 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 was founded in Italy in 2010 and has been recognised by multiple organisations as one of the fastest growing tech companies in Europe – including Euronext TechShare, Tech Tour 50, Technology Fast 500 EMEA and the FT 1000. For more information, please visit: www.motork.io.
For further information, please contact:
MotorK Investor Relations
Andrea Servo – CFO
+39 02 9175 7910
MotorK Corporate Communications
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.
This press release contains information within the meaning of Article 7(1) of the Market Abuse Regulation (596/2014).