Sa3ar Technology Solutions, an Egyptian firm that digitises auto-auction sales, has been purchased by Contact Financial Holding’s automobile marketplace Contactcars.
Sa3ar Technologies Solutions, founded by Adham and Hussein Hosny, provides automobile appraisal technology as well as a dealer-specific auction platform.
Contactcars, Egypt’s biggest automotive marketplace, has officially acquired the company in a move that would allow the latter to improve its user experience by providing a holistic pricing tool that caters to both dealers and vehicle traders.
The founders and staff of Sa3ar will continue to collaborate with Contact to develop new and innovative services for the market.
“With online usage growing tremendously among both consumers and business, and with the increasing shift to digital by car market players, this acquisition allows us to bolster Contactcars’ market-leading position as well as lay the foundation for additional services going forward. This is just the first step in a series of investments which will be announced in due course,” said Zater, chief executive officer (CEO) of Contact Financial Holding.
