incadea plc (LSE-AIM: INCA), a leading provider of enterprise software and services to the global automotive dealership industry, is pleased to announce that it has won a multi-year agreement with Bosch China worth $20 million and expected to commence towards the end of 2015.
This is the first deal won as part of the global framework agreement, announced in July 2014 (RNS No. 9003M).
A leading international parts and component manufacturer, Bosch has the highest number of workshops in China and this contract is incadea’s first project within the franchised and independent automotive workshop sector; a new market segment for the Group. incadea will provide Bosch’s workshop network in China with its next generation Dealer Management System, incadea.myengine DMS, and its Business Intelligence solution, incadea.bi, via its new cloud delivery model. This agreement enhances further incadea’s software roll-out in China and is in line with the company’s growth strategy of market segment expansion.
KPMG forecasts that by 2020, China will be the world’s largest automotive market, responsible for nearly one third of annual new vehicle sales worldwide (KPMG Global automotive Retail Market Report, September 2013).
Patrick Katenkamp, Chief Executive Officer of incadea plc, commented: "I am delighted that the framework agreement signed recently is already bearing fruit for incadea. This project in China is the first signed under the agreement and marks a major milestone as we enter a new market segment. It significantly expands our presence in the Asia Pacific region and our intention to become the market leader by total user numbers. I look forward to providing updates on additional agreements as incadea makes continued progress in this market segment.”
For further information please contact:
+49 89 69338 0
Patrick Katenkamp (Chief Executive Officer)
Alex Tsaparas (Chief Financial Officer) www.incadea.com
Cenkos Securities plc (Nomad & Broker)
Elizabeth Bowman (Corporate Finanace)
Stephen Keys (Corporate Finance)
Mark Connelly (Corporate Finance)
+44 20 7397 8900
N+1 Singer (Joint Broker)
+44 20 7496 3000
John Coles / Adam Lloyd / Edward Treadwell
+44 20 7653 9850
incadea (LSE AIM: INCA) is a leading international provider of software solutions and services to the global automotive retail and wholesale market. Incadea addresses the needs of this industry by offering global solutions with state-of-the-art innovation and local execution capabilities. Products include dealer management, business intelligence, and customer and vehicle relationship management solutions. These are used by multinational car manufacturers, Original Equipment Manufacturers (“OEMs”) and their dealership networks. Through continuing global expansion, incadea serves more than 70,000 end users in more than 2,400 dealerships in 87 countries across the globe.
Headquartered in Germany, incadea has offices in Austria, Greece, Spain, Portugal, Russia, China, Japan, India, Taiwan, Mexico, New Zealand. The Group has a network of worldwide certified channel partners, and its range of blue chip customers include over 50 OEMs such as BMW, Toyota, Volkswagen, Peugeot/Citroën, Ford, Scania and Mercedes-Benz. For more information, please visit www.incadea.com.