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Stock Report
izmo Ltd. acquires Geronimo Web
Posted On : 2024-07-09 14:21:52( TIMEZONE : IST )
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."
Shares of IZMO Limited was last trading in BSE at Rs. 404.70 as compared to the previous close of Rs. 413.00. The total number of shares traded during the day was 17018 in over 1069 trades.
The stock hit an intraday high of Rs. 417.00 and intraday low of 401.85. The net turnover during the day was Rs. 6948937.00.
