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Successful private placement of €75 million, implying a market capitalisation of €261 million
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172nd company listed on Euronext markets and 20th listing on Euronext Amsterdam in 2021
Amsterdam – 5 November 2021 – Euronext today congratulates MotorK Plc (together with its subsidiaries and affiliates, “MotorK”), a leading software-as-a-service (“SaaS”) provider for the automotive retail industry in the EMEA region, on its listing on Euronext Amsterdam (ticker code: MTRK). It is the 172nd listing on the Euronext markets in 2021, and the 20th for Euronext Amsterdam this year.
MotorK, an alumnus of Euronext’s TechShare pre-IPO programme, began trading following a successful Initial Public Offering (IPO), with an offer size of €75 million (excluding the over-allotment option). The offering price was set at €6.50 per share, implying a market capitalisation for MotorK of €261 million.
Founded in 2010, MotorK has grown to become a leading SaaS provider for the automotive retail industry in the EMEA region, with over 300 employees, 13 original equipment manufacturer (“OEM”) customers and eight offices in seven countries (Italy, Spain, France, Germany, Portugal, the UK, and Israel). MotorK’s main cloud-based SaaS platform, “SparK”, spans a comprehensive suite of products to support the full vehicle lifecycle and the entire customer journey. SparK can be used to manage the digital presence of a small single showroom dealer equally as well as to support the sales and marketing functions of a regional network of franchise dealerships for an automotive OEM across EMEA. As of today, SparK is used by over 660 dealer groups and 13 OEMs in the EMEA region.
Marco Marlia, CEO and co-founder of MotorK, said: “This historic milestone represents a strong vote of confidence in our technology, solid business model, talented employees, and long-term potential. Over the last 10 years, we have worked tirelessly to build a cutting-edge platform designed to serve automotive dealers and OEMs as they digitalise their operations and develop new online capabilities. We enter this exciting next chapter on solid footing, with exciting plans to invest in innovation to further strengthen the value proposition of MotorK for our customers and partners, as well as continue investing in our talent and contributing positively to the communities in which we operate. We have a clearly defined strategy of pursuing organic and inorganic growth to drive market share gains, as evidenced by our recent acquisitions in France and Spain.”
Caption: Marco Marlia, CEO and co-founder of MotorK, and his team rang the bell during a traditional Gong Ceremony this morning to celebrate the Initial Public Offering of the company. They were welcomed by René van Vlerken (Head of Listing Euronext Amsterdam) and Giovanni Vecchio (Euronext Milan).
About MotorK
MotorK is a leading software as a service (“SaaS”) provider for the automotive retail industry in the EMEA region, with over 250 employees and eight offices in seven countries (Italy, Spain, France, Germany, Portugal, the UK and Israel). MotorK empowers car manufacturers and dealers to improve their customer experience through a broad suite of fully integrated digital products and services. MotorK provides its customers with an innovative combination of digital solutions, SaaS cloud products and the largest R&D department in the digital automotive industry in Europe. MotorK was founded in Italy in 2010 and has been recognised by multiple organisations as one of the fastest growing tech companies in Europe – including Euronext TechShare, Tech Tour 50, Technology Fast 500 EMEA and the FT 1000. For more information, please visit: www.motork.io.