Imaweb, an independent developer and provider of automotive and dealership software solutions in Europe, has acquired Stieger, a dealership software solutions provider in Switzerland and Austria.
Imaweb is backed by PSG, a growth equity firm that focuses on partnering with middle-market software and technology-enabled service companies.
Headquartered in Staad, Switzerland, Stieger simplifies client processes and improves efficiency for original equipment manufacturers (OEMs) and dealerships through its innovative software solutions. Founded in 1982, the company currently employs around 60 people across six locations in Switzerland, Austria and Slovakia. Stieger clients include Swiss and Austrian franchise dealers across a number of OEM brands, such as Volkswagen, Audi, Renault, Ford, Toyota, Peugeot, Volvo, Mercedes and Citroën.
The acquisition of Stieger will strengthen Imaweb’s presence in DACH, the largest automotive market in Europe, and Stieger’s market leading positions in Switzerland and Austria will complement Imaweb’s existing presence in Germany. Furthermore, Stieger’s product offering is additive to Imaweb’s digital software solutions which support the digitalisation of the overall customer journey for dealerships and OEMs. Following the transaction, Stieger’s CEO and Founder Eugen Stieger will retire from the business.
“We are delighted to onboard Stieger as part of Imaweb,” says Patrick Prajs, CEO of Imaweb. “We believe that the company’s innovative technology will bring an added edge to our existing offering to OEMs and dealerships across Europe.”
Julian Ciccale, Co-Founder and Deputy CEO of Imaweb, adds: “The acquisition of Stieger also supports our pan-European growth strategy by strengthening our presence in the DACH region, which is a priority market for Imaweb.”
Eugen Stieger, CEO and Founder of Stieger, says: “In Imaweb, we believe we’ve found the right partner to take Stieger forward and ensure the company’s continued success over the coming years. The Stieger team are excited to join Imaweb as the company enters the next phase of its growth.”
PSG invested in Imaweb in May 2019, backing the company’s founders to seek to transform the leading automotive CRM solutions provider in Spain into a pan-European player. Since then, Imaweb has grown quickly through a combination of organic growth and strategic M&A. This transaction is Imaweb’s third in 2021, following the acquisitions of leading German automotive digital software solutions provider Procar in January and Stampyt, a leading French AI-driven re-marketing software provider, in March. Imaweb now offers a full suite of digital software solutions designed for car dealers and OEMs throughout Europe.
Financial terms of this acquisition have not been disclosed.
