Rome - MotorK, an Italian company that develops digital solutions for the automotive industry, has acquired Punsset, a Spanish enterprise specializing in the creation of software and online business strategies for car dealerships. Founded in 2010, MotorK works in partnership with 90% of the car manufacturers operating on the European market.
In March it closed a 10 million venture round, led by 83North venture capital and with the contribution of the Swedish venture capital firm Zobito. MotorK operates in Italy, France, Germany, the United Kingdom, and Spain. With the acquisition of Punsset it will expand its presence in the Iberian Peninsula (including in Portugal). As explained in a statement: "The services currently offered by Punsset will add to those delivered by the Italian company."
Punsset, like MotorK, was founded in 2010. The company works with 400 car dealerships and 28 auto manufacturers and has achieved an average annual growth rate of 38%. Punsset staff will be supporting some of the business areas that MotorK is already working in, starting with DealerK, a cloud solution for car dealers providing digital management for the dealerships. Marco Marlia, founder and CEO of MotorK, said in a statement: "The entry of the Punsset team and its technology into our company is a driving force that will accelerate our expansion into Spain and Portugal. Our aim is to become European leaders in automotive digital solutions over the next 24 months".
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