- Pinewood.AI acquired a 90.9% stake in Seez for USD 42M, with the deal expected to close by March 19, 2025.
- The acquisition funds are GBP 22.8M in cash, GBP 3.9M for ESOP holders, and new ordinary shares issued to sellers.
- Pinewood aims to integrate Seez’s AI-driven platform, reducing reliance on third-party licenses and investments.
Acquisition
What is the deal? Pinewood Technologies PLC, acquired a 90.9% stake in the UAE-based Seez for an approximate value of USD 42 million.
The deal is expected to close around March 19th, 2025 subject to the successful issuance of the new shares as part of the linked fundraising.
How is the acquisition being funded? The acquisition will be funded by approximately GBP 22.8 million in cash with GBP 3.9 million to ESOP option holders. The rest will be in the form of new ordinary shares issued to specific sellers.
The companies expect the acquisition to be significant to earnings by fiscal year 2026. This will be after the first year of Seez under Pinewood leadership.
Pinewood.AI
What is the benefit? The acquisition highlights the increasing role of AI and machine learning in agency management systems (DMS). Furthermore, it is banking on the potential scalability of Seez’s omnichannel platform. As well as, the integration of advanced technology with Pinewood’s existing infrastructure.
Furthermore, the acquisition will also allow Pinewood to avoid a large investment or reliance on third-party licences to release an AI and machine learning offering.
Snapshot of the Companies
Pinewood.AI is an automotive intelligence platform that aims to enable retailers and OEMs to increase profitability through their cloud-based end-to-end eco system. Moreover, this is through giving its clients a real-time understanding of datapoints at all times.
Meanwhile Seez is a SaaS platform for AI and machine learning in the automotive sector that includes a smart chatbot and various e-commerce and omnichannel products.
It is worth noting that Seez secured an investment of USD 4.2 million to fuel its expansion and build its AI technology.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.
