CarGurus to acquire PistonHeads
CarGurus and Haymarket Media Group announced they have signed an agreement for CarGurus to acquire used car motoring website PistonHeads.
Following completion of the acquisition, CarGurus intends to operate PistonHeads as an independent brand, maintaining the site’s popular community and content, while applying CarGurus’ technology to enhance the site experience for users.
CarGurus also plans to offer its dealership listings services across platforms to improve choice for UK automotive buyers and drive increased value and efficiencies for CarGurus’ dealership and manufacturer customers.
CarGurus COO Sam Zales said, ‘CarGurus’ momentum in the UK continues to build, and aligning the CarGurus and PistonHeads brands enables us to accelerate our audience growth, and continue to innovate our transparent marketplace. For dealers in the UK, this combination will make CarGurus an even more compelling platform that can help them connect with a larger audience of used car buyers at an attractive ROI.’
CarGurus CEO Langley Steinert added, ‘PistonHeads is one of the UK’s most trusted and influential digital motoring brands, and we see it as a perfect fit with our own consumer-centric model and pioneering ethos. We look forward to applying CarGurus’ engineering expertise to unleash the full potential of the platform, while staying true to what makes PistonHeads so special to millions of motoring enthusiasts and car-buyers in the UK.’