London-listed car retail software company Pinewood Technologies is rolling out its automotive intelligence platform across 155 dealerships through a deal with Global Auto Holdings.
The company’s AI platform, which gives car retailers data-driven commercial insights, will be deployed across all of the Global Auto dealerships in the UK, North America and Scandinavia.
The contract marks the largest adoption of Pinewood’s tech by a major non-associated dealership group.
As part of the deal, Pinewood has issued warrants to an affiliate of Global Auto, granting the right to purchase over six million of its ordinary shares – around a 7% stake in the business at a price of 330p per share.
Pinewood shares jumped 6% on Friday morning, currently trading at 339.09p.
“We look forward to working together and we believe that our innovative Pinewood Intelligence Platform will help Global Auto Holdings drive growth and unlock revenue throughout their entire dealership network,” said Bill Berman, CEO of Pinewood Technologies Group.
“We’ve now achieved our target to sign up two of the top 20 auto retail groups in the UK and Ireland ahead of schedule, while laying the groundwork to expand our footprint across our core markets.”
The contract follows Birmingham-headquartered Pinewood raising its earnings guidance for FY27 from £27m to £30m in October, laying out a major expansion plan centring around its move into AI.
“We are pleased to be partnering with Pinewood and believe this collaboration aligns perfectly with our strategic goal of becoming the leading consumer-facing global automotive company,” said Roy Cui, executive vice president of Global Auto Holdings.
“This partnership will enable us to drive further efficiencies and optimize our processes for the benefit of all of our stakeholders.”
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