Drew Technologies, Inc., an Opus IVS division company, acquired US-based AutoEnginuity, LLC for a purchase price of approximately $20 million on a cash-free and debt-free basis. All conditions for completion of the acquisition of AutoEnginuity have been met.
AutoEnginuity, founded in 2003 and headquartered in Mesa, Ariz., has developed into a leader in advanced aftermarket automotive diagnostics software and associated vehicle make/model coverage. The combined Opus IVS companies serve an existing customer base of 50,000 automotive repair shops globally, by providing market leading vehicle diagnostics and vehicle communication offerings to address the trend of increased vehicle digitalization and automation.
Drew
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