UAE – Pinewood.AI, a leading provider of cloud retail solutions for the automotive industry, has acquired a 90.9% majority stake in UAE-based Seez, a SaaS platform specializing in artificial intelligence and machine learning-driven automotive solutions. The deal, valued at $42 million, is set to be completed by March 19, 2025, pending the successful issuance of new shares as part of the related fundraising process.
The acquisition will be financed through a combination of £22.8 million in cash, £3.9 million allocated for ESOP holders, and the remaining amount settled via the issuance of new ordinary shares to certain sellers. Pinewood’s total initial investment in Seez, including prior funding, amounts to $46.2 million.
Seez is widely recognized for its advanced AI-powered SaaS platform, offering a range of smart automotive solutions, including an intelligent chatbot, multi-channel e-commerce tools, and dealership management services. These products are currently utilized by car dealerships worldwide.
According to financial data from December 2024, Seez achieved an annual recurring revenue (ARR) of $4.4 million, reflecting a fivefold increase from the previous year. The company is projected to triple its revenue by the end of 2025, further accelerating its growth under Pinewood’s ownership. The acquisition is expected to contribute significantly to Pinewood’s profitability, with major financial gains anticipated by the 2026 fiscal year.
Industry experts highlight the acquisition as a strategic move by Pinewood to integrate Seez’s AI-driven technology into its Dealer Management Systems (DMS), strengthening its position in the automotive software market. The deal also allows Pinewood to avoid heavy investments in third-party licenses while enhancing its in-house AI and machine learning capabilities.
It is noteworthy that Pinewood had previously invested $4.2 million in Seez as part of a strategic funding round in September 2024. This latest acquisition marks a major milestone in the expansion of AI-driven solutions within the automotive sector.
