AI assistant
IZMO Limited — M&A Activity 2024
Jul 9, 2024
62393_rns_2024-07-09_6c6fb651-20c7-4485-8c65-0e61ad2ff7ed.pdf
M&A Activity
Open in viewerOpens in your device viewer
==> picture [605 x 60] intentionally omitted <==
July 09, 2024
| July 09, 2024 | |
|---|---|
| The ManagerCorporate Relationship DepartmentBombay Stock Exchange LimitedFloor 25, Phiroze Jeejeebhoy TowerDalal Street, Mumbai-400001 | The Manager – Listing DepartmentNational Stock Exchange of India LimitedExchange Plaza, 5th FloorPlot No. C/1, G Block,Bandra Kurla Complex,Bandra(E),Mumbai-400051 |
| BSE Scrip Code : 532341 | NSE Symbol: IZMO |
Subject: Business Update Release.
Dear Sir/Madam,
Pursuant to the applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, we are sending herewith the copy of Business Update Release titled “ Izmo Ltd. acquires Geronimo Web, a global leader in digital marketing programs for automotive OEMs and dealers” . The Business release is self-explanatory.
The above information shall also be made available on the Company’s website www.izmoltd.com.
Kindly take the same on record and acknowledge.
Yours faithfully, For IZMO Limited
Digitally signed SONA by SONAL JAJU Date: 2024.07.09 L JAJU 12:11:01 +05'30'
Sonal Jaju
Company Secretary and Compliance Officer
Encl: As Above
==> picture [598 x 82] intentionally omitted <==
==> picture [110 x 24] intentionally omitted <==
BUSINESS UPDATE RELEASE
izmo Ltd. acquires Geronimo Web, a global leader in digital marketing programs for automotive OEMs and dealers.
The acquisition makes izmo amongst the largest automotive digital web platform providers worldwide
Bengaluru, India – July 9[th] , 2024 – izmo Ltd.’s US-based subsidiary, izmo Inc., has announced a strategic acquisition of Geronimo Web, a provider of digital marketing programs for automotive OEMs and dealerships.
Geronimo Web is a global leader in its category, and this acquisition makes izmo one of the largest providers of digital web platforms across Europe, USA and South America. These are important markets for izmo and offer tremendous growth opportunities.
Post the acquisition, izmo’s clientele will expand to over 4,000 automotive dealers worldwide, offering services in 37 countries, in 16 languages. Geronimo brings an extensive dealer client base and long-standing OEM relationships, which will complement izmo’s product portfolio to help clients drive their digital retail strategies.
Dealers who use Geronimo’s platform will now have access to our comprehensive suite of products including izmoEmporio (3D virtual showroom), Digital+ (Digital Transformation Program) and MarketingFactory.
Commenting on this development, Mr. Sanjay Soni, Managing Director, izmo Ltd., said:
“We are excited to announce the acquisition of Geronimo Web through our US-based subsidiary, izmo Inc.
Geronimo is a market leader and a trusted name in digital marketing platforms, and this move makes izmo amongst the top digital web platform providers in key markets of the US, Europe and South America..
The acquisition will expand our reach to over 4,000 dealers across 37 countries. We hope to benefit from Geronimo’s strong relationship with OEMs and wide dealer client-base, which will give izmo a ready market to tap for their wide range of products.
Together, we aim to revolutionize the automotive retail landscape and offer greater value to our customers, while creating sustainable value for all stakeholders. I would like to thank the entire izmo team for their dedication and relentless efforts which drive the Company forward.”
About Geronimo Web
Geronimo is a leading global provider of digital marketing programs for OEMs and dealerships. Founded in 2009, the company has a proven track record of helping dealers improve their online presence, enhance customer engagement, and drive online car sales. For more information visit www.geronimo.io
About izmo Ltd.
izmo Ltd. provides automotive retail solutions for dealerships worldwide and is the largest global producer of interactive media content for the automotive industry. izmo products include Digital Retail Web Platform, Parts Distribution CRM, Search Engine Marketing and Data Analytics, among others. izmo is headquartered in Bangalore, India, with offices in San Francisco, Long Beach, Chicago, Brussels and Paris.
For further information, please contact:
| Marcomm Departmentizmo LimitedEmail: [email protected] | |||
|---|---|---|---|
| Ms. Savli Mangle / Mr. Rahul Trivedi | |||
| Adfactors PR | |||
| Email:[email protected]/ | |||
| [email protected] | |||
| www.izmoltd.com | www.adfactorspr.com |
Caution Concerning Forward- Looking Statements : Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factor s that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other risk factors, viewers are cautioned not to place undue reliance on these forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.