11:05 am, May 2, 2024
Keyloop has completed its takeover of automotive tech firm ATG for an undisclosed fee.
Car Dealer reported on April 10 that the two companies had reached a ‘definitive agreement’ over an acquisition and the deal has now been wrapped up.
Keyloop says that ATG – which stands for Automotive Technology Group – will allow it to accelerate its ‘Experience-First blueprint’.
The approach puts accurate data at its core, allowing for a more personalised customer experience.
Bosses also say that the deal will help to ‘support automotive retailers and OEMs in their delivery of exceptional customer experiences’.
Tom Kilroy, CEO of Keyloop, said: ‘Together, Keyloop and ATG combine to create an integrated technology portfolio that more completely connects the entire consumer automotive journey, helping retailers and OEMs improve customer experience via innovative solutions.’
ATG, based in Kent, currently employs over 330 people. Following the conclusion of the deal, all staff will now transfer to Keyloop.
Among them will be ATG CEO, Tim Smith, who joins the executive team at Keyloop as part of the acquisition.
He said: ‘The announcement today is a testament to the inspirational and innovative team at ATG and the vision and commitment from Keyloop.
‘I am delighted to be joining the executive team at Keyloop and look forward to bringing our businesses together over the coming weeks for the benefit of all our customers.’
ATG was advised in the deal by Houlihan Lokey and Taylor Wessing while Keyloop was advised by King & Spalding and Paul Hastings LLP.
