Latest Procar News
Apr 7, 2021
Latest investment consolidates Imaweb’s strong market position in DACH following the acquisition of Procar in January April 07, 2021 03:00 AM Eastern Daylight Time MADRID & LYON, France--( BUSINESS WIRE )--Imaweb, a leading independent developer and provider of automotive and dealership software solutions in Europe, today announced the acquisition of Stieger, a leading dealership software solutions provider in Switzerland and Austria. Imaweb is backed by PSG, a growth equity firm that focuses on partnering with middle-market software and technology-enabled service companies. Headquartered in Staad, Switzerland, Stieger simplifies client processes and improves efficiency for original equipment manufacturers (“OEMs”) and dealerships through its innovative software solutions. Founded in 1982, the company currently employs around 60 people across six locations in Switzerland, Austria and Slovakia. Stieger clients include Swiss and Austrian franchise dealers across a number of OEM brands, such as Volkswagen, Audi, Renault, Ford, Toyota, Peugeot, Volvo, Mercedes and Citroën. The acquisition of Stieger will strengthen Imaweb’s presence in DACH, the largest automotive market in Europe, and Stieger’s market leading positions in Switzerland and Austria will complement Imaweb’s existing presence in Germany. Furthermore, Stieger’s product offering is additive to Imaweb’s digital software solutions which support the digitalisation of the overall customer journey for dealerships and OEMs. Following the transaction, Stieger’s CEO and Founder Eugen Stieger will retire from the business. “We are delighted to onboard Stieger as part of Imaweb,” said Patrick Prajs, CEO of Imaweb. “We believe that the company’s innovative technology will bring an added edge to our existing offering to OEMs and dealerships across Europe.” Julian Ciccale, Co-Founder and Deputy CEO of Imaweb, added, “The acquisition of Stieger also supports our pan-European growth strategy by strengthening our presence in the DACH region, which is a priority market for Imaweb.” Eugen Stieger, CEO and Founder of Stieger, said, “In Imaweb, we believe we’ve found the right partner to take Stieger forward and ensure the company’s continued success over the coming years. The Stieger team are excited to join Imaweb as the company enters the next phase of its growth.” 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. This transaction is Imaweb’s third in 2021, following the acquisitions of leading German automotive digital software solutions provider Procar in January and Stampyt, a leading French AI-driven remarketing software provider, in March. Imaweb now offers a full suite of digital software solutions designed for car dealers and OEMs throughout Europe. The financial terms of this acquisition are not being disclosed. Imaweb Imaweb is a leading developer and provider 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 distributers and dealers, in 2019. For more information, visit https://www.imaweb.com/ . Stieger Stieger Software is a leading developer of complete IT solutions and interfaces for the Swiss and Austrian automotive industries. Founded in 1982, the company now employs around 60 highly qualified people across six locations in three countries. Stieger's innovative dealer management systems are currently used by more than 1650 customers. Stieger has a threefold core business: a cutting-edge specialty in the automotive industry, a la carte concepts and a systematic standardization policy for software use. For more information about the company, please visit https://www.stieger.ch 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/
Procar Frequently Asked Questions (FAQ)
When was Procar founded?
Procar was founded in 1998.
Where is Procar's headquarters?
Procar's headquarters is located at Heinrich-Hertz-Str. 1, Darmstadt.
What is Procar's latest funding round?
Procar's latest funding round is Acquired.
Who are the investors of Procar?
Investors of Procar include Indiana Manufacturers Association.