Seez: Pinewood.AI to Acquire for Over $46.2 Million
Deal News | Feb 25, 2025 | Zawya
Pinewood.AI, a UK-based provider of cloud-based software solutions for the automotive sector, has announced its plan to acquire Seez, a Dubai-headquartered autotech start-up, for over $46.2 million. The agreement entails Pinewood acquiring 90.9% of Seez's share capital for $42 million, following its previous investment of $4.2 million in 2024. The transaction highlights Pinewood's strategic move to solidify its presence in the automotive technology landscape and underscores Seez's ambitions to leverage advanced technology in dealership operations. The acquisition is scheduled to be finalized by March 19, 2025. Tarek Kabrit, CEO of Seez, expressed enthusiasm about the merger, emphasizing the creation of a next-generation platform aimed at enhancing dealership capacities.
Sectors
- Automotive Technology
- Private Equity and Investment
Geography
- United Kingdom – Pinewood.AI is based in the UK, which is significant as the acquiring company in the transaction.
- United Arab Emirates – Seez is headquartered in Dubai, UAE, making it significant as the target company in the transaction.
Industry
- Automotive Technology – The article focuses on companies providing technology solutions within the automotive industry, relevant due to Pinewood's cloud software and Seez's autotech platform.
- Private Equity and Investment – This sector is involved due to Pinewood.AI’s investment in Seez, highlighting the financial transaction and acquisition aspect of the deal.
Financials
- 46.2 million – Total value of the acquisition deal combining the purchase and initial investment amounts.
- 42 million (33.3 million) – Purchase price for the 90.9% share capital of Seez being acquired by Pinewood.AI.
- 4.2 million – Initial investment made by Pinewood.AI in Seez in September 2024.
- 22.8 million – Cash consideration part of the deal.
- 3.9 million – Cash cancellation amount included in the deal terms.
- – Issuance of 6.6 million new ordinary shares to certain sellers as part of the transaction structure.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Pinewood.AI | Acquiring Company | Company | A UK-based provider of cloud-based software solutions in the automotive sector. |
| Seez | Target Company | Company | A Dubai-headquartered autotech start-up focused on innovative automotive solutions. |
| Tarek Kabrit | CEO of Seez | Person | The Chief Executive Officer of Seez, expressing insight on the merger impact. |
| Cleofe Maceda | Writer | Person | Writer of the press release. |
| Seban Scaria | Editor | Person | Editor of the press release. |