GT Motive strengthens its future with Allianz X
- The leading automotive data company plans to continue expanding its capabilities in Europe.
- Allianz X announces an agreement to acquire a majority stake and promotes the role of GTMotive as an independent company: “Open and Collaborative Ecosystem” remains the leitmotif of the company, its solutions, and the team.
- The Einsa founding group will remain as minority shareholder in GT Motive, maintaining the current management.
Madrid, September 16, 2021
GT Motive, a company specialized in claims, maintenance, and breakdown estimation software for the automotive sector, has announced signing a definitive agreement for a change in ownership with Allianz X (Allianz Group) acquiring a majority stake from current shareholders Mitchell and Einsa.
This alliance continues to support the Global expansion of GT Motive and accelerates the company’s ambition to become an international leader in vehicle data and claims automation for the automotive repair industry.
“Solid progress of a company like GT Motive demands a long-term vision and commitment, and GT Motive has found in Allianz X the best support for many years to come,” said Ángel Martínez, CEO of GT Motive. “GT Motive’s role is to support insurers, repairers and car manufacturers in the claims and repair process, and we will continue loyal to our purpose of contributing with innovative, open and collaborative technology to return the cars back to the road efficiently and in optimum safety conditions”.
“GT Motive provides highly-accurate data at competitive prices and one of the most integrative, customer-centric platforms on the market,” said Dr. Nazim Cetin, CEO of Allianz X. “We see enormous potential to scale it up into a hard-hitting heavy-weight. All
it needs is some more muscle behind it—and that’s where Allianz X can help.”
This transaction is subject to customary closing conditions, including applicable regulatory clearance.
About GT Motive
GT Motive, headquartered in Madrid and present in 28 countries, is a company specialised in delivering automotive data to the repair, insurance, fleet and leasing industries. GT Motive dreams of a more open and collaborative ecosystem, providing access to data to enable claims and repair digitalisation. Using the latest technology, GT Motive processes more than 5 million estimates every year with consistent growth.
For more information, visit www.gtmotive.com.
About Allianz X
Allianz X invests in digital pioneers of ecosystems relevant to insurance and asset management. As one of the cornerstones of the Allianz Group’s digital transformation strategy, Allianz X provides an interface between Allianz’s Operating Entities and the broader digital ecosystem, helping drive the transformation towards a digital, automated, and connected future.
Allianz Group, in turn, is one of the world’s leading insurers and asset managers with over 100 million private and corporate clients in more than 70 countries served by around 150 thousand employees.
For more information about Allianz X, visit www.allianzx.com.
This document includes forward-looking statements, such as prospects or expectations, that are based on the management’s current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or
events may differ significantly from those expressed or implied in such forward-looking statements. GT Motive assumes no obligation to update any information or forward looking statement contained herein, except for any information we are required to disclose by law.
NBRA Director, Chris Weeks commented: “It will be interesting to see if this majority ownership changes the UK product, but the fact remains that there is still a shortage of choice in the estimatics market and NBRA are still keen to see competition thrive that will reduce overheads for UK repairers”