Imaweb/IDF Group has completed the acquisition of ITmotive
Imaweb/IDF Group (“The Group”), one of Europe’s largest developers of customer relationship management (“CRM”) and dealer management systems (“DMS”) solutions for the automotive industry, today announced it has completed the acquisition of ITmotive (“ITM”), a Netherlands-based distributor and servicer of DMS for automotive dealers in the Benelux region.
The Group is backed by Providence Strategic Growth (“PSG”), the growth equity affiliate of Providence Equity Partners (“Providence”). Financial terms were not disclosed and ITmotive founder Oscar Derksen will continue to lead its day-to-day operations.
Depuis ses débuts en 2007, ITM a fondé exclusivement sa croissance sur l’intégration de I’Car DMS – un produit phare développé par le Groupe, qui simplifie et rationnalise les opérations du distributeur et fluidifie ses relations avec ses constructeurs – chez les distributeurs du Benelux.
Since launching in 2007, ITM has grown to become the exclusive supplier of I’Car DMS – a flagship product developed by The Group, which simplifies and streamlines dealership activity to improve the relationship between dealers and OEMs – to distributors throughout the Benelux region. With offices in the Netherlands and Belgium, ITM is staffed by a team of experts specializing in the development, implementation and maintenance of I’Car DMS, which is primarily sold through a subscription model. The Group and ITM have highly complementary service lines and the combined entity will deliver greater efficiency in the segment of enterprise software for the automotive sector, while serving more OEMs and dealers across Europe.
Substantial value for stakeholders
Patrick Prajs, CEO of The Group, said: “This is a significant deal for both companies, which we believe will unlock substantial value for stakeholders as we achieve complementary strategic goals with the support of PSG. The combination of leading CRM and DMS development, distribution and servicing capabilities better positions us to cater to growing demand for SaaS in the automotive sector in Europe. We look forward to building on decades of experience, performance and relationships as we integrate and grow the businesses further.”
Oscar Derksen, Founder and CEO of ITmotive, said: “This acquisition demonstrates the attractiveness of the business we have built. With the benefit of a bigger team working closer together and stronger financial foundation, in addition to the expertise of PSG, we are confident the combined unit will be a more robust player in this high-growth space.”
About The Group :
Imaweb / I’Car Systems-DATAFIRST Group is a leading developer of CRM and DMS solutions for the automotive sector in Europe. The company was formed as a result of the merger of Imaweb – a Spanish company engaged in the development of global customer management solutions for sales, marketing and aftersales – and I’Car Systems-DATAFIRST, a French software development company for automotive manufacturers and dealers.
ITmotive is the leading distributor and servicer of I’Car DMS in the Benelux region. Founded in 2007, the company works with auto distributor groups and connects Dutch and Belgium local industry systems with international manufacture systems. For more information about ITmotive, visit: http://ITmotive.eu/
About Providence Strategic Growth Capital Partners LLC
Providence Strategic Growth (“PSG”) is an affiliate of Providence Equity Partners (“Providence”). Established in 2014, PSG focuses on growth equity investments in lower middle market software and technology-enabled service companies. Providence is a premier global asset management firm that pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 180 companies and is a leading equity investment firm focused on the media, communications, education and information industries. PSG is headquartered in Boston with offices in London and Kansas City. For more information on PSG, please visit www.provequity.com/private-equity/psg, and for more information on Providence, please visit www.provequity.com.