Cox Automotive has acquired Codeweavers, provider of commerce solutions and finance software for OEMs, retailers, lenders and portals, in a move that will significantly extend its digital retail capabilities and offering.
Codeweavers will sit alongside Cox Automotive’s existing digital marketing and retail solutions business, Modix, to build its presence as a leading international provider of digital retail solutions for the automotive industry.
Established in 2002, Codeweavers started as the technology arm of a finance brokerage firm and became an independent business in 2012. The company has successfully built the business during the last decade, developing a suite of solutions that support online digital retail services for vehicle manufacturers, dealers and lenders. It offers omni-channel solutions including new car stock locators, finance calculators, finance application, checkout and e-signing.
Martin Forbes, President of Cox Automotive International, said: “The pandemic has clearly shown the importance of having a compelling digital retail offering and the need for innovative online technology solutions has accelerated over the last year. We know that any effective new or used vehicle e-commerce platform must have extensive digital capabilities built-in and Codeweavers offers an impressive range of products and software in this area.”
“The company is a leading provider in this space and their solutions are integrated into the websites of some of the largest automotive manufacturers and it has recently launched a full e-commerce solution for a major OEM. We’re looking forward to working with them to build on their current success in the UK and Europe.”
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Codeweavers will retain its brand in the UK, with its Chief Executive and founder, Roland Schaack, reporting into Darren Sinclair, managing director of Modix International.