Madrid-based automotive industry digital solutions provider Imaweb has acquired Swiss competitor Stieger.

Financial terms and conditions were not disclosed.

Backed by growth equity firm PSG, Imaweb has been on a tear this year, with the acquisition of German competitor Procar in January, and French remarketing software developer Stampyt just last month.

Founded in 1982 and headquartered in Staad, Switzerland, Stieger simplifies client processes for OEMs and auto dealerships, has six offices across Switzerland, Austria, and Slovaskia, and counts Volkswagen, Audi, Renault, Ford, Toyota, Peugot, Volvo, Mercedes and Citroën amongst its client base.

Through the acquisition of Stieger, Imaweb will strengthen its position in Europe’s largest automotive market, as well as add a strong product offering to their existing digitisation of the customer journey for dealerships and OEMs.

“The acquisition of Stieger also supports our pan-European growth strategy by strengthening our presence in the DACH region, which is a priority market for Imaweb,” says Imaweb co-founder and deputy CEO ulian Ciccale.

This purchase will also mark the end of an area at Stieger, as the company’s founder Eugen Stieger is set to retire.

“In Imaweb, we believe we’ve found the right partner to take Stieger forward and ensure the company’s continued success over the coming years. The Stieger team are excited to join Imaweb as the company enters the next phase of its growth,” comments Stieger.

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