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MotorK Completes Acquisition of Fidcar

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  • MTRK.AS

Enhances MotorK’s Integrated SaaS Platform by Adding New Proprietary AI, Data Analysis, and E-Reputation Capabilities

MILAN & LONDON, December 03, 2021--(BUSINESS WIRE)--Regulatory News:

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 Fidcar SAS ("Fidcar"), an innovative solution provider for automotive retail based in France.

Fidcar developed innovative e-reputation and predictive marketing solutions that capture data related to the customer journey and then analyse it with proprietary AI to determine the retail preferences and habits of customers. This information can then be leveraged to strengthen customers’ e-reputation efforts and broader social media presence. Through completion of the acquisition, MotorK will integrate Fidcar’s technology into its SaaS platform and offer these additional solutions to its customers to help them leverage customer data to drive acquisition and retention.

"We are thrilled to have reached this milestone and it is a strong testament of our continued focus on strategic M&A as part of our broader growth strategy," said Marco Marlia, Co-Founder & CEO of MotorK. "Incorporating Fidcar’s highly innovative e-reputation solutions to MotorK’s comprehensive offering will further enhance our integrated SaaS platform by adding new proprietary AI, data analysis and e-reputation capabilities. We strongly believe Fidcar’s products will provide immediate value to our existing and future customers and we look forward to fully unlocking this potential."

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 acquisitions of Dapda and FranceProNet are expected to conclude by the end of 2021.

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.

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

This press release contains information within the meaning of Article 7(1) of the Market Abuse Regulation (596/2014).

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View source version on businesswire.com: https://www.businesswire.com/news/home/20211203005436/en/

Contacts

MotorK Investor Relations
Andrea Servo - CFO
+39 02 9175 7910
investors@motork.io

MotorK Corporate Communications
International
Camilla Scassellati Sforzolini/ Julia Leeger
Sard Verbinnen & Co (SVC)
MotorK-SVC@sardverb.com
+44 7960 702 664/
+44 7963 380 446

Italy
Francesca Prosperi / Madia Reina
francesca.prosperi@motork.io
madia.reina@motork.io
+39 33 5848 9800/
+39 371 3771779

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