Motus acquires stake in tech firm to fasttrack online vehicle sales
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CAPE TOWN - MOTUS Holdings has acquired a 49 percent shareholding in Synapt Proprietary, which in turn owns 100 percent of GetWorth, a technology and pre-owned vehicle business that uses its own patented technology.
Getworth’s technology and products are used to assist customers “to buy right and sell smart,” a statement from Motus said yesterday. The value of the acquisition was not disclosed.
GetWorth uses Artificial Intelligence and smart products to drive customer offerings. These, coupled with a professional service and one touch customer technology, gave the business a unique value proposition, Motus said.
The acquisition underpinned Motus’ intention to support its new and pre-owned vehicle retail businesses by utilising technology. The plan was to deploy the vehicle buying and selling processes developed by GetWorth by matching it to the scale of the Motus dealer network.
GetWorth would enable Motus to fast-track its positioning in on-line vehicle buying and warehouse retailing, resulting in increased vehicle sales, the statement said. Motus’ share price increased 1.66 percent to R87.57 yesterday.