Entrance into franchised and independent automotive workshop sector with international manufacturer significantly expands addressable market
incadea plc (LSE-AIM: INCA), a leading provider of enterprise software and services to the global automotive dealership industry, is pleased to announce it has won a significant global agreement with a leading international parts and component manufacturer. This agreement marks incadea’s entrance into a new market segment.
The collaboration will see incadea provide its next generation Dealer Management System, incadea.myengine DMS, to the world's largest independent chain of workshops, which consists of over 15,000 businesses and represents a market opportunity of over 120,000 users worldwide. Incadea will also provide its Business Intelligence solution, incadea.bi, via its new cloud delivery model, allowing for centralised business data consolidation at a national level, to enable improved forecasting and planning.
Based on the global framework agreement, a number of significant projects are underway in several countries, and these are expected to be announced in due course.
The franchised and independent service workshop market consists of large numbers of service outlets which are typically smaller entities, consisting of 5-10 users. This segment has, through the volume of outlets, several millions of users worldwide.
Patrick Katenkamp, Chief Executive Officer of incadea plc, commented: "I am delighted to be able to announce another significant global deal. This contract to supply our next generation software to the worldwide workshop network of an international manufacturers’ automotive aftermarket division, represents entry into a valuable adjacent market. Entry into the franchised and independent automotive workshop sector significantly expands our addressable market. We plan to announce specific projects under this framework agreement in due course, and we intend to make further progress in this adjacent segment of the market with our existing product portfolio of cloud solutions.”
For further information please contact:
+49 89 69338 0
Patrick Katenkamp (Chief Executive Officer)
Alex Tsaparas (Chief Financial Officer)
Cenkos Securities plc (Nomad & Broker)
Stephen Keys (Corporate Finance)
Mark Connelly (Corporate Finance)
+44 20 7397 8900
N+1 Singer (Joint Broker)
+44 20 7496 3000
Fiona Conroy / Caroline Forde / Graham Herring
+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.