SOUTH AFRICA – MOTUS Holdings, a diversified (non-manufacturing) business in the automotive sector, has acquired a 49 percent shareholding in tech firm 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.
However, he value of the acquisition was not disclosed.
GetWorth uses Artificial Intelligence and smart products to drive customer offerings and 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”
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 Holdings Limited is a South Africa-based company which operates in the automotive sector. The Company operates through four segments import and distribution, retail and rental, motor-related financial services, and aftermarket parts.
The Company’s import and distribution segment imports and distributes passenger and light commercial vehicles and parts to a network of dealerships, car rental companies, fleets, and government institutions.
The Company’s retail and rental segment sells passenger and commercial vehicles in various segments that include entry level, sports utility vehicles, luxury, light commercial, and heavy-duty vehicles, and its motor-related financial services segment develops and distributes various vehicle related financial products and services through importers and distributors, dealers, vehicle finance houses, call centres, and digital channels.
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