Lithia & Driveway enters strategic partnership with Pinewood Technologies

  • Lithia & Driveway (NYSE:LAD) Thursday said that it has completed the transaction with Pendragon, acquiring the UK motor and fleet management divisions of Pendragon, and forming a strategic partnership with Pinewood Technologies.
  • LAD’s UK operations will expand their digital capabilities by integrating the Pinewood technology platform across all locations and will co-develop automotive technology solutions to capitalise on the North American market opportunity through a joint venture.
  • Pinewood’s dealer management software remains listed on the London Stock Exchange under the name Pinewood Technologies plc and will become a pure-play software-as-a-service business.
  • Source: Press Release

Related post