IN BRIEF: Pinewood Technologies plans fundraise to help buy Seez
Pinewood Technologies Group PLC - Birmingham-based provider of software to the automotive retailing sector - Agrees to buy the outstanding 91% of Seez, an automotive AI & ML SaaS platform, that it does not already own for GBP33.3 million. Around GBP22.8 million is to be paid in cash to certain sellers, GBP3.9 million on completion and GBP6.6 million via a share issue. The acquisition is expected to be significantly earnings accretive by financial 2026, the first full year under Pinewood's ownership. Chief Executive Bill Berman says: "Since making our strategic investment in Seez in September 2024, we have made strong progress together and the full acquisition of the business is a compelling opportunity to build on this early success." Read More