Information Technology
INFOMEDIA TO ACQUIRE 50% OF INTELLEGAM - AN ENTREPRENEURIAL AUTOMOTIVE AI STARTUP IN EUROPE
The purchase price of ~A$10 million is split between cash and Infomedia shares and will be paid over two years. ~A$2m of the consideration will be invested directly into Intellegam to provide the business with working capital.
The agreement provides Infomedia with the pathway to acquire the remaining 50% of Intellegam over five years, subject to the achievement of defined financial and strategic hurdles.
The future valuations of Intellegam are linked to both revenues and profitability and are capped at appropriate levels that ensure the dual objectives of providing incentives for the selling shareholders of Intellegam and financial certainty to Infomedia.
Infomedia's CEO, Jens Monsees said:
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Intellegam's CEO, Tobias Hetfleisch said:
The transaction is subject to satisfying customary closing conditions.
Established in March 2023 Intellegam is an early-stage European AI startup founded by Marc Gehring , Tobias Hetfleisch and Hannes Burrichter who were joined by Franz Wimmer , a former BMW executive. Intellegam currently provides the following solutions and services to enterprises customers.
Among its customers are two Chinese OEM brands using its Repair AI solution in Europe .
Infomedia continues to assess further organic and inorganic growth opportunities, with a focus on enhancing its core platform capabilities, growing its customer base and increasing its reach across geographic markets.
Infomedia will host a webinar for investors at 1pm today. Please use the following link to register and join.
https://openexc.zoom.us/webinar/register/WN_vun8AayzQJipuuuqyfJKxA
This release was authorised by the Board of Infomedia Limited.
About Infomedia: Infomedia Ltd (ASX: IFM) is a leading global provider of DaaS and SaaS solutions that empowers the data-driven automotive ecosystem. Infomedia's solutions help OEMs, NSCs, dealerships and 3rd party partners manage the vehicle and customer lifecycle. They are used by over 250,000 industry professionals, across 50 OEM brands and in 186 countries to create a convenient customer journey, drive dealer efficiencies and grow sales. Please visit Infomedia's website https://www.infomedia.com.au and YouTube channel https://www.youtube.com/infomedialtd for more information.
[1] Paid in EUR at a fixed EUR of 0.61
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