Seez Set for $42M Takeover by Pinewood Technologies
Deal News | Feb 22, 2025 | Aim Group
Dubai-based auto-tech company Seez is on the verge of acquisition by U.K.-based Pinewood Technologies Group for $42 million. This substantial transaction involves Pinewood acquiring the remaining 90.9% of Seez shares that it doesn't already own. The financial breakdown includes a cash component of €22.8 million for certain sellers, €3.9 million for ESOP option holders, and €6.6 million in new ordinary shares. Since transforming into a SaaS provider, Seez has raised $18 million and expanded its headquarters in Dubai and office in Copenhagen. Pinewood plans to enhance its AI capabilities and bolster its automotive software offerings through this acquisition. Pinewood describes Seez as a leading AI and machine learning-powered SaaS platform crucial for automotive retail innovation. The acquisition aligns well with Pinewood’s strategy to boost its North American expansion and redefine dealership technology interactions. Despite being founded only in 2015, Seez has significantly grown, extending its operations across various countries and introducing the AI chatbot Dalia. Together, Pinewood and Seez champion the autonomous future of automotive retail.
Sectors
- Automotive Technology
- Software as a Service (SaaS)
- Artificial Intelligence and Machine Learning
Geography
- United Arab Emirates – Seez is headquartered in Dubai, making the UAE a significant geography for this acquisition.
- United Kingdom – Pinewood Technologies is a U.K.-based company, thus the U.K. is a key geography for this acquisition.
- North America – The acquisition is expected to expand Pinewood's influence into the North American market.
- Denmark – Seez has an office in Copenhagen, contributing to its global operations and influence.
- Global – Seez operates in 15 markets worldwide, including Australia, South Africa, New Zealand, Mexico, and the U.K., emphasizing the global nature of this business transaction.
Industry
- Automotive Technology – The article focuses on companies involved in the development and provision of software and technology solutions for the automotive industry, which include AI, machine learning, CRM systems, and digital marketing products.
- Software as a Service (SaaS) – Seez is highlighted as a leading AI-powered omni-channel SaaS platform, showcasing how software services are revolutionizing the automotive sector.
- Artificial Intelligence and Machine Learning – Both Seez and Pinewood Technologies are investing in AI and ML to enhance automotive retail technologies and customer service solutions, making it a central theme of the acquisition.
Financials
- $42,000,000 – Total value of the acquisition deal between Pinewood Technologies and Seez.
- €22,800,000 – Cash component of the acquisition sum payable to certain sellers.
- €3,900,000 – Amount payable to holders of certain Seez ESOP options.
- €6,600,000 – Amount in the form of new ordinary shares.
- $4,200,000 – Pinewood Technologies' strategic investment in Seez, made in September prior to the acquisition.
- $18,000,000 – Total funding raised by Seez for its transition to a SaaS provider.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Seez | Target Company | Company | A Dubai-based auto-tech company that provides AI and machine-learning automotive SaaS solutions. |
| Pinewood Technologies Group | Acquirer | Company | A U.K.-based firm providing cloud-based software solutions for the automotive industry. |
| Tarek Kabrit | CEO and Co-Founder of Seez | Person | Oversees strategic direction at Seez and discusses the impact of its acquisition by Pinewood Technologies. |
| Bill Berman | CEO of Pinewood Technologies Group | Person | Leader of Pinewood Technologies who comments on the strategic benefits of acquiring Seez. |
| Andrew Kabrit | Co-Founder and CPO of Seez | Person | Plays a key role in product development at Seez and in its global expansion efforts. |