MotorK in Advanced Talks to Acquire Automotive Software Firm Carflow.
MANews-(C)2009-2022
UK-based automotive retail industry software provider MotorK plc (AMS: MTRK) has entered into advanced negotiations for the acquisition of automotive retail solutions provider Carflow, the company said.
Carflow serves more than 400 car dealers and major automotive OEMs in Belgium, Netherlands and Luxembourg.
Both MotorK and Carflow have signed exclusive and binding agreements and are working towards a swift completion.
Founded in 2009, Carflow is an established automotive software as a service player in the Benelux digital automotive retail market.
The company provides car dealers and manufacturers with a complete suite of digital solutions focused on three areas: automated online sales and conversion processes; lead generation and follow-up; and omnichannel digital showroom capability.
In 2021, the company reported revenues of c. EUR 3m, achieving double-digit growth on the previous year. Recurring revenues represented c. 75% of this total.
Carflow offers...
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