Egypt-based Contactcars, the lead automotive marketplace has announced their acquisition of Sa4ar Technology Solutions which is known for providing car valuation technology and a dealer-specific auction platform.
Contactcars.com is a subsidiary of Contact Financial Holing and they’ve been constantly evolving and looking for new opportunities to arise which will provide the automotive ecosystem with innovative value-added services. By acquiring Sa3ar Technology which was founded by Adham Hosny and Hussein Hosny, ContactCars have a simple aim. And it is to enhance the user experience by helping provide one holistic pricing tool that will cater to both end-user and dealers. And that will enable the market to enjoy consistent vehicle pricing. The digital auction technology will be consolidated by resulting in one dealer-specific app which is provided to the dealers and car traders even though it’s a new technology to the Egyptian Market. It’ll help both dealers and car traders who are willing to digitize the purchase and sale of used cars.
Said Zater, CEO of Contact Financial Holding, said “with online usage growing tremendously among both consumers and business, and with the increasing shift to digital by car market players, this acquisition allows us to bolster contactcars.com’s market-leading position as well as lay the foundation for additional services going forward. This is just the first step in a series of investments which will be announced in due course.”
Osman Abdelmoneim, Managing Director of contactcars.com, added “our loyal user base has come to expect continuous innovation from us; the areas of market pricing and car valuation are no different and we expect to be the key source of car pricing for the automotive market. Furthermore, we are introducing a strong layer of automotive dealer services and the digital auction system will be a vital part of this new portfolio of dealer services.”
ContactCars, as a platform constantly looking forward to enhancing its platform by focusing on introducing innovative services for both dealers and consumers. And they have a purpose of bringing the entire automotive ecosystem closer together by simplifying the process of buying, selling, and owning both new or used cars by making the process secure and faster at the same time making it a better experience for both sides.