Online car retailer Cazoo, has announced that it has acquired Cazana, an owner of a vehicle pricing dataset and one of the main data insights platforms in the European automotive industry. The deal has been valued at approximately £25m in cash.
[caption id="attachment_27480" align="alignright" width="300"] File pic of Cazana team with CEO Tom Wood, centre[/caption]
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Cazana’s subsidiary Car & Classic did not form part of this transaction and CEO Tom Wood and COO Chris Varin will remain with the Car & Classic business. The transaction is expected to have an 'immaterial impact' on Cazoo’s FY2021 operating results.
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Founded in 2012, Cazana employs 50 staff including world-class data scientists and engineers headquartered in London. Cazana has built an extensive dataset of over 500 million historic vehicle transactions from over 40 countries including the UK, Germany, France, Spain and Italy and its tools are used by car manufacturers, lenders, fleet owners and insurers.
Alex Chesterman, CEO of Cazoo said: “This acquisition will enhance our data team and capabilities and enable us to further optimise our buying and pricing of vehicles across the UK and Europe".
Cazana’s subsidiary Car & Classic did not form part of this transaction and CEO Tom Wood and COO Chris Varin will remain with the Car & Classic business.
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