Autochek has acquired a start-up e-commerce automotive technology company, AutoTager as a means to penetrate cross-border expansion towards the northern axis of Africa. The acquisition is a complete deal in Egypt where Autochek controls its subsidiary’s automotive technology to commercialize the B2B trading network via cars purchase.
The Pan-African automotive company also uses emerging technology to auto-check its products while manufacturing automobiles. Autochek is based within the continent having touched down in the north side of Aftica per an acquisition deal with the Egyptian start-up automotive company.
AutoTager ‘s CEO & Founder Amr Rezk said his automotive infrastructure suggests optimal deals for customers to connect with other car dealers. However, the start-up e-commerce automotive technology company poses as a digital dealership that has an ideal infrastructure to support financing users.
AutoTager’s “record of concurrently operating various business models in the automotive space is stellar and provides us with a wide menu of options and cutting-edge tools to offer AutoTager’s customers a truly unique proposition.”
“We have very exciting plans and are confident that the global OEM and financing partnerships that Autochek has secured will also provide us with differentiated access allowing us to lead in our space while targeting high-quality top decile returns,” Amr Rezk said.
Autochek’s Group CFO and co-founder, Olajide Adamolekun confirmed the acquisition deal and noted AutoTager’s CEO has a clean sheet with his professional “track record is as impressive as it gets and I am delighted to have him on board. His experience will be invaluable as we enter the Egyptian market and continue on our mission to improve the automotive finance value proposition on the continent and catalyze more growth across the automotive ecosystem.”
Adamolekun comments continued as highlights to “many parallels between Autochek and AutoTager, and we are looking forward to building on these parallels to deliver more growth and success in the months and years to come.”
The Pan-African automotive company acquisition deal is Foreign Direct Investment (FDI) in Africa over the past decade which stretched out towards the Egyptian border. Autochek currently has access to its newly acquired subsidiary iB2B infrastructure likewise expanding across the continent.