Last checked at 25 Apr 2017 15:15
25th April 2017
AUTO TRADER GROUP PLC
ACQUISITION OF MOTOR TRADE DELIVERY LIMITED
Auto Trader Group plc (LSE: AUTO), the UK's largest digital automotive marketplace, today announces the acquisition of Macclesfield-based Motor Trade Delivery Limited ("MTD") for an undisclosed sum.
Founded in 2013, MTD operates an online real-time marketplace for the trade delivery of vehicles across the UK. Through the platform, car dealerships and rental companies list 'jobs' - vehicles that need moving to another retailer site or a customer - and logistics providers bid for the jobs via a live auction process. Dealerships get the best possible price for the vehicle movement without needing to contact multiple potential providers and the logistics providers save time and money by getting access to greater volumes of work. MTD facilitates the movement of around 3,000 vehicles around the country every week.
Auto Trader CEO, Trevor Mather, said: "We have been extremely impressed by the technology platform and customer base that MTD has built in a short space of time and are delighted to be welcoming them to the Auto Trader team. We believe that their innovative product, combined with our scale, industry knowledge and relationships, will create an offering with growth potential that will strengthen our trade-to-trade business. More broadly, this acquisition is an extension of our overall strategy of using digital technology to improve efficiencies for our retailer customers."
MTD's annual revenue and profit for the financial year ending September 2016 was less than 1% of Auto Trader's annual revenue and profit.
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Media Enquiries:
For all media enquiries, please contact Rob Greening Rob.Greening@powerscourt-group.com or Juliet Callaghan juliet.callaghan@powerscourt-group.com at Powerscourt, or call them on 020 7250 1446.
About Auto Trader:
Auto Trader Group plc is the UK and Ireland's largest digital automotive marketplace. Auto Trader sits at the heart of the UK's vehicle buying process and its primary activity is to help vehicle retailers compete effectively on the marketplace in order to sell more vehicles, faster. Auto Trader listed on the London Stock Exchange in March 2015 and is now a member of the FTSE 250 Index.
The marketplace brings together the largest and most engaged consumer audience. Auto Trader has over 90% prompted brand awareness and attracts circa 60 million monthly cross platform visits each month, with circa 70% of visits coming through mobile devices.
The marketplace also has the largest pool of vehicle sellers (listing more than 430,000 cars each day). Over 80% of UK automotive retailers advertise on autotrader.co.uk.
For more information, please visit http://about-us.autotrader.co.uk
For more information about MTD please visit: http://motortradedelivery.com