Dec 22, 2023 5:46 PM
The Platform Group AG
/ Key word(s): Investment
The Platform Group AG fully acquires car platform Vivelacar
Düsseldorf, December 22, 2023, The Platform Group AG (ISIN DE000A200QEFA1, "TPG"), a leading software company for platform solutions, announces the complete acquisition of Vivelacar GmbH ("Vivelacar"), a leading vehicle subscription platform.
At the beginning of 2023, The Platform Group AG became the majority shareholder in Vivelacar and has successfully expanded the platform strategy with The Platform Group AG's software solutions since joining the company. The acquisition of the Cluno Group, Munich, was also completed during the course of the year. The aim was to further expand the strong market position in Germany, Austria and Switzerland. In the meantime, further vehicle stocks and brands have been taken live, the most important makes being Mercedes, Volkswagen, Hyundai, Open and Nissan. The company is based in Stuttgart, with further branches in Vienna, Zurich and Zagreb.
As of December 2023, the acquisition of shares was agreed with three selling parties, in future 100% of the shares will be owned by The Platform Group AG, the closing of the transaction is planned for March 2024, the remuneration for the acquisition of shares to the sellers will be paid both in cash and in the form of share compensation as part of the authorized capital of The Platform Group AG.
"Vivelacar has developed well as a platform, costs have fallen and we can expand our market position well. The market for car subscription solutions is growing rapidly and there are only a few providers in the market. Customers appreciate the high flexibility of a monthly notice period and the service that vehicles are registered and insured directly. The B2B customer share in particular is increasing significantly," says Dr. Dominik Benner, CEO of The Platform Group AG.
In the coming year, The Platform Group AG plans to acquire a further 3-8 companies in both the B2B and B2C sectors.
The Platform Group AG:
The Platform Group AG is a software company that is active in 18 sectors with its own platform solutions. Its customers include both B2B and B2C customers in sectors such as furniture retail, machinery retail, dental technology, car platforms and luxury fashion. The group has 14 locations across Europe with 680 employees. Over 20 investments and company acquisitions have been made since 2020. In 2023, sales of EUR 440 million and an adjusted EBITDA of EUR 20 million are expected.
22.12.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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1803497 22.12.2023 CET/CEST