Based out of London, Cazoo is a developer of an online used car marketplace designed to transform the way people buy, finance, or rent used cars.
Recently, the online car retailer announced the acquisition of vehicle data insight firm Cazana for £25 million in cash. The transaction is expected to have an immaterial impact on Cazoo’s FY2021 operating results.
How does the acquisition benefits Cazoo?
The acquisition by Cazoo will combine its market-leading brand, proposition, and platform with Cazana’s extensive data, products, and expertise. This acquisition follows its recent listing on the NYSE.
This deal will enhance Cazoo’s data team and capabilities and allow it to further optimise its car buying and pricing across the UK & Europe for the benefit of consumers.
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…