PSG-backed Imaweb Acquires AI-driven Remarketing Software Provider Stampyt
16.3.2021 11:08:00 EET | Business Wire | Press release
Imaweb, a leading independent developer and provider of automotive and dealership digital software solutions in Europe, today announced the acquisition of Stampyt, a leading French provider of remarketing software and other digital solutions for the second-hand vehicle market. Imaweb is backed by funds advised by PSG, a leading growth equity firm that focuses on partnering with middle-market software and technology-enabled service companies.
Founded in 2015, Stampyt’s AI-driven imaging technology enables dealerships and original equipment manufacturers (OEMs) to boost their second-hand vehicle sales by providing them with innovative digital solutions to support aftersales and remarketing activities. In addition to photo and video technology, Stampyt also develops and commercialises a suite of complementary solutions allowing dealers and OEMs to, among others, inspect vehicles remotely (leveraging on proprietary AI image editing capabilities) and to digitally manage documents, based on blockchain technology.
Stampyt’s innovative and scalable technology supports the digitalisation of the overall customer journey for dealerships and OEMs and is complementary to Imaweb’s existing suite of digital software solutions. We believe that Imaweb’s pan-European presence will support the accelerated roll-out of Stampyt’s technology across the continent, building on its existing position as a market leader in the French used car market. Following the transaction, CEO Alexandre Launay will continue to lead the business alongside Stampyt’s other Co-Founders, executing on the company’s mission to digitalise the automotive industry.
“We are delighted to welcome the Stampyt team as part of Imaweb today,“ said Patrick Prajs, CEO, and Julian Ciccale, Co-Founder and Deputy CEO, at Imaweb. “Stampyt’s technology is innovative and additive to our existing automotive software solutions. We believe that our continental scale combined with Stampyt’s product offering will accelerate the digitalisation of the entire customer journey for dealerships and OEMs across Europe.”
Alexandre Launay, CEO and Co-Founder of Stampyt added, “We’ve been looking for the right partner to help accelerate our growth internationally and our shared vision meant Imaweb was the natural choice. We are excited to work with the teams at both Imaweb and PSG as we lead the group’s innovation strategy going forward.”
PSG invested in Imaweb in May 2019, backing the company’s founders to seek to transform the leading automotive CRM solutions provider in Spain into a pan-European player. Since then, Imaweb has grown quickly through a combination of organic growth and strategic M&A, most recently the acquisition of Procar in Germany in January 2021. Today, Imaweb offers a full suite of digital software solutions to dealerships and OEMs across Europe.
Financial terms were not disclosed.
Notes to Editors
Imaweb
Imaweb is a leading developer and distributor of digital solutions for the automotive sector in Europe. The company was formed through the merger of Imaweb, a Spanish company dedicated to developing global customer management solutions for sales, marketing and after-sales, and DATAFIRST-I’Car Systems group, a French software development company for car manufacturers, group distributors and dealers, in 2019. For more information, visit https://www.imaweb.com/.
Stampyt
Stampyt is a leading developer and provider of technologies and solutions for the automotive industry. Ease of use and automation are the DNA of the tools developed by Stampyt to digitalise the automotive sector. Stampyt now collaborates with some of the world’s largest OEMs as well as many French automotive groups to provide imaging technology for the automotive industry. https://en.stamp.yt
PSG
PSG is a growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 65 companies and facilitated over 275 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London*. https://www.psgequity.com/
*Currently, the London team operates via an advisory agreement with Providence Equity LLP.
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Contact information
Ryan Smith
Prosek Partners
pro-psg@prosek.com
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