Cazoo has acquired vehicle data insight firm Cazana for £25m cash. Cazana’s products include real-time vehicle valuation, pricing and stock management tools.
Cazoo said the deal will enhance its data capabilities and help it optimise its car buying and pricing across the UK and Europe.
Cazana’s subsidiary Car & Classic did not form part of this transaction and CEO Tom Wood and COO Chris Varin will remain with the Car & Classic business.
It has invested heavily in sports sponsorship to grow the business and this month floated in the US valued at $8bn.
Cazoo has sold over 35,000 cars in the UK since its launch two years ago and is seeking to build scale in its business.
This compares with the biggest used car operator in the UK Arnold Clark which sold around 250,000 used cars in 2019.
Alex Chesterman OBE, Founder & CEO of Cazoo said: “Cazana has built one of the leading data insights platforms, providing tools which are used by manufacturers, lenders, fleet owners and insurers in the automotive space.
“This acquisition will enhance our data team and capabilities and enable us to further optimise our buying and pricing of vehicles across the UK and Europe. I am looking forward to welcoming the Cazana team to Cazoo as we continue our mission to deliver the best car buying and selling experience to consumers across Europe.”
Tom Wood, CEO of Cazana said, “I am very proud of what we have built and what the Cazana team has achieved over the past few years. We now have comprehensive vehicle data across Europe and our extensive dataset, products and tools are highly valued by our customers.”