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Nextcar Completes Acquisition Of Autonomy Brand And Intellectual Property Brand Library

Nov 25, 2021over 3 years ago

Acquiring Company

NextCar Holding Company

Acquired Company

Autonomy Brand

Transportation

Description

NextCar / NXCR (NextCar Holding Company), the fintech and insurtech vehicle subscription platform founded by auto retail, auto finance, and insurtech entrepreneurs Scott Painter and Georg Bauer, today announced it has completed the acquisition of the Autonomy brand and IP brand library from Micro Focus.

Company Information

Company

NextCar Holding Company

About

NextCar / NXCR (NextCar Holding Company) is a technology company on a mission to make access to mobility easy and affordable. The company was founded by auto retail, auto finance, and auto insurance disruptors Scott Painter and Georg Bauer, who founded Fair, the first-ever used-vehicle subscription offering, pioneering the Car-as-a-Service (CaaS) category. Building upon that experience, NextCar is creating a turnkey vehicle subscription platform for the automotive industry that enables vehicle subscriptions to scale profitably and become a mainstream alternative to traditional car buying. NextCar is innovating through technology, finance, and insurance in order to power car subscriptions for the used-vehicle sector, as well as the battery electric vehicle and zero-emissions vehicle sectors. NextCar relies on partnerships with automakers and brick-and-mortar car dealerships to provide a benefit to both consumers and the industry.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed