A leading automotive marketplace in Egypt, Contactcars are poised to expand their offerings after the acquisition..
Egyptian automotive marketplace, Contactcars, has announced the acquisition of local startup, Sa3ar Technology Solutions, a platform that digitises auto-auction deals.
Though details have not been disclosed, the milestone deal will allow Contactcars to enhance its user experience with the same tech used by Sa3ar in order to develop a holistic pricing tool. For Zaid Zater, CEO of Contact Financial Holding, this is just one of several similar moves in the pipeworks.
“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’ market-leading position as well as lay the foundation for additional services going forward,” Zater said. “This is just the first step in a series of investments which will be announced in due course.
Adham Hosny and Hussein Hosny, the founders of Sa3ar Technology Solutions, will work with Contact to create new and upgraded car valuation services for the automotive market.
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