BOLSTER MOTORK’S INTERNATIONAL PRESENCE AND ITS STRONG TRACK RECORD OF
STRATEGIC M&A TO CONSOLIDATE THE MARKET
MotorK Plc (AMS: MTRK), the leading SaaS provider to the automotive retail industry in EMEA, announces that the company has entered into advanced negotiations for the acquisition of Carflow, an automotive retail solutions provider that serves more than 400 car dealers and major automotive OEMs in Belgium, Netherlands and Luxembourg.
MotorK’s goal of supporting the digital transformation of the entire car buying customer journey in Europe is taking shape through strategic M&A, entering new markets across the EMEA region and expanding its customer base organically and inorganically. This acquisition is a testament to the company’s strategy to continue increasing their market share by driving consolidation in the highly fragmented automotive retail market.
As part of this strategy, the acquisition of Carflow will also enhance MotorK’s know-how through the integration of further expertise in the digitalisation of the automotive distribution. Carflow’s strategic geographic presence will allow MotorK to reach a wider customer base and debut in Belgium, the Netherlands and Luxembourg, thus expanding the European geographic footprint of the Group. Additionally, Carflow’s solid client portfolio in the local market will enrich MotorK’s OEM networks in the Benelux area.
Marco Marlia, Co-founder & CEO of MotorK commented: “We are delighted to welcome the Carflow team into the MotorK family. Adding its strong brand, excellent OEM relationships and deep market experience to the Group will enhance our geographic footprint across Europe, providing an additional platform for growth in the Benelux region. Our new products can now be launched over a broader network of dealerships and we believe that together we can accelerate the enlarged business.”
Frederic Apers, CEO of Carflow said: “After a period of sustained growth, we are extremely proud to join forces with MotorK, the leading European automotive retail solutions business. We are excited by the prospect of offering the Group’s innovative new products to our loyal customer base, allowing us to stay at the forefront of servicing changing car buyer needs and expectations. Combined with our geographic reach, we believe we can accelerate growth for the enlarged Group going forward.”
MotorK specializes in providing Software as a Service (“SaaS”) solutions for the automotive retail industry. The Group offers a comprehensive suite of automotive-specific modules through a cloud-based SaaS platform to support customers in managing their digital presence throughout the entire vehicle lifecycle and customer journey. The acquisition of another established automotive Software as a Service player, which operates in the Benelux market, will leverage MotorK’s geographic expansion as well as consolidate its tech leadership.
ABOUT CARFLOW
Carflow offers state of art solutions enhancing the digital showroom of dealers and strong sales & marketing automation tools for automotive retail and OEMs. These enable them to manage consumer leads, offers and orders; control new and second-hand inventory as well as to publish available cars to media partners and on their own website through Carflow’s plug-in function framework. For OEMs and large dealer groups, Carflow has developed its Master CMS, making it possible to centrally roll out and manage a large number of dealer websites, while still retaining a great deal of flexibility for the local dealer branches within the brand identity of the OEM.
Forward-looking information / disclaimer
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