GT Motive strengthens its future with Allianz X
16th September 2021Tweet
- The leading automotive data company plans to continue expanding its capabilities in Europe.
- Allianz X announces an agreement to acquire a majority stake and promotes the role of GTMotive as an independent company: “Open and Collaborative Ecosystem” remains the leitmotif of the company, its solutions, and the team.
- The Einsa founding group will remain as minority shareholder in GT Motive, maintaining the current management.
GT Motive, a company specialized in claims, maintenance, and breakdown estimation software for the automotive sector, has announced signing a definitive agreement for a change in ownership with Allianz X (Allianz Group) acquiring a majority stake from current shareholders Mitchell and Einsa.
This alliance continues to support the Global expansion of GT Motive and accelerates the company’s ambition to become an international leader in vehicle data and claims automation for the automotive repair industry.
“Solid progress of a company like GT Motive demands a long-term vision and commitment, and GT Motive has found in Allianz X the best support for many years to come,” said Ángel Martínez, CEO of GT Motive. “GT Motive’s role is to support insurers, repairers and car manufacturers in the claims and repair process, and we will continue loyal to our purpose of contributing with innovative, open and collaborative technology to return the cars back to the road efficiently and in optimum safety conditions”.
“GT Motive provides highly-accurate data at competitive prices and one of the most integrative, customer-centric platforms on the market,” said Dr. Nazim Cetin, CEO of Allianz X. “We see enormous potential to scale it up into a hard-hitting heavy-weight. All it needs is some more muscle behind it—and that’s where Allianz X can help.”
This transaction is subject to customary closing conditions, including applicable regulatory clearance.