Keyloop, a leading global automotive technology company, yesterday announced it has entered into a definitive agreement to acquire ATG, an innovative provider of automotive technology focused on omnichannel retail solutions.
Headquartered in Kent, UK, ATG employs over 330 people. Its solutions are chosen by automotive retailers, OEMs, financiers and fleet suppliers in more than 80 countries and at over 10,000 retail locations, to help make the car buying experience easier.
The global automotive industry faces significant change, including rising customer expectations. A seamless experience across both digital and physical touchpoints is a vital goal for the industry. Achieving this goal is made difficult by historic process complexity.
Keyloop is focused on delivering an “Experience-First” approach throughout the lifetime of vehicle ownership. Keyloop’s vision puts accurate data at the core of its solutions to make it accessible at the right moment. This enables efficiencies for dealers, a “key it once” information flow, and a personalised customer experience.
Keyloop and ATG will combine to create an integrated technology portfolio that more completely connects the entire consumer automotive journey, helping retailers and OEMs improve the customer experience they deliver via innovative solutions.
Tom Kilroy, CEO, Keyloop, comments: “The acquisition of ATG will mark an important step forward in making Experience-First a tangible reality for our customers. ATG has created an exciting offering with the Fusion omnichannel auto retailing platform. By combining this with Keyloop’s complementary platform offerings and broad range of capabilities, we can make a meaningful positive impact on the digital transformation of the automotive retail experience. We’re looking forward to welcoming the talented team at ATG as colleagues.”
Tim Smith, CEO, ATG, comments: “At ATG, our mission has always been to free our customers from complicated vehicle sales and deliver mobility via our digital, retention and data solutions. We believe Keyloop is the perfect fit for us as we continue to provide cutting-edge, consumer-first software for retailers, OEMs, financiers, and fleet suppliers. We look forward to being part of Keyloop as it delivers on its mission to provide Experience-First solutions for the automotive industry worldwide.”
ATG is being advised by Houlihan Lokey and Taylor Wessing. Keyloop is being advised by King & Spalding and Paul Hastings LLP. ATG management were advised by Momentum Corporate Finance. The transaction is subject to customary closing conditions.
