MotorK Completes Sale of DriveK Business Unit

LONDON--(BUSINESS WIRE)--Regulatory News:

MotorK Plc (AMS: MTRK) (“MotorK” or the “Group") announces today that it has sold its B2C business unit DriveK to GEDI Gruppo Editoriale and its wholly owned subsidiary AutoXY, in accordance with its strategy communicated at the time of the IPO. Further to the announcement on 18^th October 2022, MotorK confirmed the completion of the sale of DriveK on the 15^th December 2022.

The combination of DriveK and AutoXY will create the European largest new car marketplace for consumers to select, compare and configure their next new car in Italy, France, Spain and Germany. MotorK was supported by Alvarium as Corporate Finance advisor and by Eversheds Sutherland as Legal advisor.

ABOUT MOTORK PLC
MotorK (AMS: MTRK) is a leading software as a service (“SaaS”) provider for the automotive retail industry in the EMEA region, with over 400 employees and eleven offices in eight countries (Italy, Spain, France, Germany, Portugal, the UK, Belgium and Israel). MotorK empowers car manufacturers and dealers to improve their customer experience through a broad suite of fully integrated digital products and services. MotorK provides its customers with an innovative combination of digital solutions, SaaS cloud products and the largest R&D department in the automotive digital sales and marketing industry in Europe. MotorK is a company registered in England and Wales. Registered office: 5th Floor One New Change, London, England, EC4M 9AF - Company Registration: 9259000. For more information: www.motork.io or www.investors.motork.io.