REG - Pinewood Tech Gp PLC - Acquisition of Pinewood South Africa Business

Pinewood TechnologiesAnnouncement

07/07/2025 07:00

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RNS Number : 8930P  Pinewood Technologies Group PLC  07 July 2025

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FOR IMMEDIATE RELEASE

7 July 2025

 

Pinewood Technologies Group PLC

("Pinewood.AI" or the "Company")

 

Acquisition of Pinewood South Africa Business

 

Pinewood Technologies Group PLC, a leading pure-play cloud-based software
business providing innovative retail solutions to the automotive industry, is
pleased to announce it has entered into an agreement to acquire, via its
wholly-owned South African subsidiary, certain key assets comprising of,
amongst others, customer contracts relating to the software-as-a-service
business offering known as the "Pinewood Dealer Management System"
("Business") from certain entities within the Motify Group (collectively
referred to as "PWSA") for a total cash consideration of £2.5m, payable at
completion. The transaction is expected to complete on 1 August 2025.

 

The proposed acquisition will enable Pinewood.AI to fully control its sales
and customer service functions in its markets in Southern Africa and to drive
continued growth in the region. Since 2009, PWSA has successfully expanded the
Pinewood.AI system footprint across South Africa, Zimbabwe, Zambia, Botswana,
Eswatini, Namibia and Mauritius, establishing approximately 300 dealer
partnerships and 30+ OEM partnerships.

 

The transaction reflects Pinewood.AI's strategic focus on expanding its
operations in its existing international markets of Southern Africa, Asia
Pacific and Northern & Central Europe. On completion, Pinewood.AI will
take on all of PWSA's customer contracts in the region in so far as it relates
to the Business. This will include the transfer of a number of employees based
in the region to ensure Pinewood.AI maintains the highest levels of service
and support for its customers.

 

The transaction will deliver immediate commercial benefits and is expected to
add approximately £0.5m to £0.7m in incremental annual EBITDA.

 

Bill Berman, Chief Executive Officer of Pinewood Technologies Group, said:

 

"We are thrilled to be bringing PWSA fully into the Pinewood.AI Group. This
acquisition is consistent with our strategy to expand our global operations,
and it will enhance our Go-to-Market capabilities and deepen our customer
relationships in an important growth market. Our customer base in Southern
Africa has grown across multiple franchise partners in recent years and this
move reflects our confidence that we can drive further growth in the region in
the years ahead. I would like to welcome our new associates to the business,
and we look forward to supporting their efforts to further strengthen our
presence in Southern Africa."

 

Enquiries:

 Headland Consultancy (PR & Communications)      +44 (0) 20 3805 4822
 Henry Wallers
 Jack Gault

 

About Pinewood Technologies Group PLC:

Established in 1981, Pinewood Technologies Group PLC (Pinewood.AI) is a
leading cloud-based full-service technology provider to automotive retailers
and OEMs. Pinewood.AI's system is a market-leading automotive intelligence
platform, which has been developed collaboratively with dealers and OEMs to
provide secure software across sales, aftersales, accounting and CRM. With
headquarters located in the UK and North America, Pinewood.AI serves a global
user base spanning over 20 countries and has long-standing partnerships with
over 50 OEM brands.

Previously part of Pendragon PLC, in 2024 Pinewood.AI became an independent
entity following the sale of Pendragon's UK Motor and Leasing divisions to
Lithia Motors Inc, one of the largest automotive retailers in North America.
In February 2025, Pinewood Technologies Group PLC acquired Seez, an automotive
AI & ML SaaS platform. LON: PINE, OTCQX: PINWF

For more information, visit Pinewood.AI

 

Important Notices

This announcement has been prepared for the purpose of complying with the
applicable law and regulation of the United Kingdom and information disclosed
may not be the same as that which would have been disclosed if this
announcement has been prepared in accordance with the laws and regulations of
jurisdictions outside the United Kingdom.

No reliance may or should be placed by any person for any purpose whatsoever
on the information contained in this announcement or on its completeness,
accuracy or fairness. Recipients of this announcement should conduct their own
investigation, evaluation and analysis of the business, data and property
described in this announcement. This announcement does not constitute a
recommendation concerning any investor's decision. The information in this
announcement is subject to change.

This announcement contains forward-looking statements. These statements relate
to the Pinewood.AI group's future prospects, developments and business
strategies. Forward-looking statements are identified by their use of phrases
such as "potential", "estimate", "expect", "may", "will", or the negative of
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assumptions. The forward-looking statements in this announcement are based on
current expectations and are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed or implied by
those statements. No assurance can be given that this information will prove
to be correct and such forward-looking statements should not be relied upon.
These forward-looking statements speak only as at the date of this
announcement.

No statement in this announcement is intended as a profit forecast or estimate
for any period.

 

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