MotorK - Progress through SaaS

MotorK has completed the sale of its B2C e-commerce business unit DriveK to GEDI Gruppo Editoriale on 15 December (first stated on 18 October). DriveK will be combined with GEDI’s AutoXY consumer automotive portal, creating the largest European new car marketplace for consumers to select, compare and configure their next new car in Italy, France, Spain and Germany. Management expects that the transaction will unlock substantial synergies by leveraging their respective relationships with major OEMs, coupled with marketing savings and the sharing of best practices. The sale will enable MotorK to fully focus on its B2B software as a service (SaaS) business, namely its SparK platform, while continuing to benefit from any future value creation via a 20% shareholding in the new combined entity. No other transaction details were provided in the release.