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Acquisition of GetWorth Proprietary Limited (“GetWorth”): Effective 1 March 2021
Motus Holdings Limited
Incorporated in the Republic of South Africa
Registration number: 2017/451730/06
ISIN: ZAE000261913
Share code: MTH
("Motus")
Acquisition of GetWorth Proprietary Limited (“GetWorth”): Effective 1 March
2021
Management is pleased to announce that Motus has acquired a 49% shareholding in
Synapt Proprietary Limited which owns 100% of GetWorth.
About GetWorth
Launched in 2017, GetWorth is a technology and on-line pre-owned vehicle business that
uses proprietary and patented technology, and products to assist customers to buy right
and sell smart. GetWorth uses Artificial Intelligence (AI) and smart products to drive
customer offerings. These, coupled with a professional service and one touch customer
technology, gives the business a unique value proposition. The business has registered
patents in South Africa and is awaiting registration overseas.
Business rationale for the acquisition
The acquisition underpins Motus’ intention to support its new and pre-owned vehicle retail
businesses utilising technology. Through this investment and innovation, Motus aims to
empower its customers and dealer group alike.
Motus will deploy the innovative vehicle buying and selling processes which were
developed by GetWorth. By matching the scale of the trusted and established Motus dealer
network with the GetWorth innovative processes and systems, this will expedite and
improve the selling and buying experience for the customers.
The GetWorth’s business model will enable Motus to fast-track its positioning in on-line
vehicle buying and warehouse retailing, resulting in increased vehicle sales.
By order of the Board
9 March 2021
Sponsor
Merchantec Capital
Date: 09-03-2021 03:42:00
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