Car360 Acquisition

4/17/2018

M&A

$21,900,000

Bringing the Car360 team into the fold, we add even more entrepreneurial strength in computer vision, AR and app based photo capture. This technology unlocks a number of exciting capabilities that will further our mission to change the way people buy cars. In connection with the Acquisition, the Buyer paid approximately $6.7 million in cash, subject to certain post-closing adjustments based on expenses and working capital, and issued 930,047 new class A common units (the 'Buyer Units'), which are exchangeable pursuant to the Company's Exchange Agreement into 744,037 shares of class A common stock of the Company. The Buyer Units have an aggregate value for purposes of the Purchase Agreement of approximately $15.2 million (the 'Unit Aggregate Value').

Acquired or Merged

Software

3423 Piedmont Rd. NE
Atlanta, GA 30305
USA

Car360 is at the forefront of bringing computer vision and augmented reality to the auto industry. The Car360 platform enables interactive visualization of cars and related data and increases revenue tor businesses that currently use pictures or videos for merchandising or inspecting vehicles.