Online car retailer revs up data services with £25m acquisition of insights company
An online car retailer has announced that it has acquired an international data insights company.
Cazoo, headquartered in London, has acquired Cazana, which provides real-time vehicle valuation, pricing and stock management tools.
The acquisition was agreed upon for a price of approximately £25m, with Cazana’s team of more than 50 staff all joining Cazoo.
Cazoo has said that the deal will enhance its data team and capabilities across the UK and Europe.
Alex Chesterman, founder and CEO of Cazoo, commented: “Cazana has built one of the leading data insights platforms, providing tools which are used by manufacturers, lenders, fleet owners and insurers in the automotive space.
“This acquisition will enhance our data team and capabilities and enable us to further optimise our buying and pricing of vehicles across the UK and Europe.
“I am looking forward to welcoming the Cazana team to Cazoo as we continue our mission to deliver the best car buying and selling experience to consumers across Europe.”
Tom Wood, CEO of Cazana said, “I am very proud of what we have built and what the Cazana team has achieved over the past few years.
“We now have comprehensive vehicle data across Europe and our extensive dataset, products and tools are highly valued by our customers.
“Cazoo has a clear vision and strategy to provide the best full stack car buying and selling experience across Europe and by joining forces, the Cazana team, data and products will continue to play a key part in accelerating the digital transformation of the industry.
“Chris and I are excited to be continuing our journey leading Car & Classic whilst supporting the integration of the Cazana business with Cazoo over the coming months.”
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