Pinewood Technologies Group has actually begun trading on the OTCQX Best Market which will certainly unlock to United States financial investment in business.
The brand-new growth drops in line with Pinewood’s intends to increase in the United States after acquiring artificial intelligence (AI) specialist Seez
The financial investment in Seez belongs to Pinewood’s intends to increase right into the United States market, in collaboration with Lithia Motors.
Pinewood’s admission to the OTCQX market will certainly supply trading for capitalists in the United States, guaranteeing they have accessibility to the exact same degree of info and disclosure readily available to capitalists in the UK, however with US-facing systems and websites.
The firm’s common shares will certainly remain to trade on the major market of theLondon Stock Exchange No brand-new common shares will certainly be released as component of the start of trading on OTCQX.
Bill Berman, president of Pinewood Technologies Group, stated: “Trading on the OTCQX Market provides capitalists in the United States the possibility to acquire shares in Pinewood Automotive Intelligence a lot more conveniently.
“With the worldwide market for supplier administration software program options fragmented, the Pinewood Automotive Intelligence system capitalises on the global requirement for quality in between consumer, supplier and producer.
“Strengthened by our partnership with Lithia, one of the largest automotive dealer groups in the US, we believe Pinewood Automotive Intelligence is a compelling investment proposition that will continue to deliver significant value for shareholders.”
United States car dealership titan Lithia Motors got the car dealership teams had by Pendragon, consisting of Stratstone, Evans Halshaw, California and Car Store in February 2024.
The offer additionally saw Lithia get a significant shareholding in formerly Pendragon- had Pinewood, with both companies developing a United States joint endeavor under which Lithia will certainly rollout Pinewood software program right into its very own systems in addition to assistance taking the item to market to motivate fostering by car dealership competitors.
The joint endeavor was vital to the firm’s success in expanding its United States procedures where the core auto DMS and CRM applications comprise a $3.4 billion market.
