M&A advisory for AutomotiveTech companies
AutomotiveTech M&A has held up better than venture financing through the mobility correction. OEMs and tier-1 suppliers are consolidating software, telematics and connected-vehicle capabilities they spent years trying to build internally, and PE platforms in automotive aftermarket and fleet services continue to roll up software assets. Deal flow is steady; the diligence bar has risen.
AutomotiveTech businesses attract a well-defined acquirer set. OEM corporate development teams (Toyota, VW, GM, Ford, Stellantis, Hyundai, BMW) and tier-1 supplier M&A desks (Bosch, Continental, Aptiv, ZF, Magna, Forvia) are the most consistent strategic buyers, alongside PE platforms rolling up automotive software, aftermarket and fleet services. Flow has direct access to corporate development at OEMs and tier-1s and runs outreach to buyers who have actually closed in the category.
Flow team has relevant sector experience and has worked with AutomotiveTech companies across connected vehicle platforms, in-vehicle software and infotainment, telematics and fleet management, ADAS and vehicle data, and aftermarket and repair.
"AutomotiveTech" KPIs M&A buyers look at
Key metrics strategics and PE buyers look at when analayzing AutomotiveTech M&A targets
Design wins
Active OEM contracts
Content per vehicle
Vehicles on platform
Software ARR
Gross margin
Programme pipeline
Customer concentration
R&D as % of revenue
Revenue per vehicle
AutomotiveTech valuations in May 2026
Public AutomotiveTech comps trade at 1.6x EV/Revenue. Median revenue multiple across AutomotiveTech M&A deals was 1.5x in the last 12 months.
1.6x
Median EV/Revenue as of May 2026 for public AutomotiveTech companies
16x
Tesla is the highest valued public AutomotiveTech company based on EV/Revenue (excluding outliers)
1.5x
Median EV/Revenue across AutomotiveTech M&A deals in the last 12 months
16x
Median EV/Revenue across AutomotiveTech VC rounds in the last 12 months
Key recent AutomotiveTech M&A deals
$4.1B acquisition of Iveco Group by Tata Motors was the largest AutomotiveTech M&A transaction completed in the last year.
See all AutomotiveTech M&A deals| Logo | HQ | Description | Buyer | ||||
|---|---|---|---|---|---|---|---|
Jul-25 | Iveco Group |  | Iveco Group NV is engaged in the design, production, marketing, sale, servicing, and financing of trucks, commercial vehicles, buses, and specialty vehicles for firefighting, defense, and other uses, as well as combustion engines, alternative propulsion systems, transmissions, and axles. The group has five operating segments: Truck, Bus, Defence, Powertrain, and Financial Services. The majority of revenue is generated from the Truck segment which designs, manufactures, and distributes a full range of light, medium, and heavy vehicles for the transportation and distribution of goods under the IVECO brand. Geographically, the majority of revenue is generated from Europe. | Tata Motors | $4.1B | 0.2x | |
Jun-25 | Ricardo |  | Ricardo is a global engineering consultancy and high-performance product manufacturer specializing in powertrain systems, vehicle dynamics, hybrid and electric propulsion, transmissions, and environmental analysis. It serves automotive, rail, marine, and defense sectors with simulation, testing, and prototyping services. Shoreham-by-Sea-headquartered in West Sussex, UK, Ricardo maintains technical centers in the United States, Germany, Sweden, India, and China for projects like Formula 1 engines and low-emission military vehicles. | WSP Global | $3.3B | 7.4x | |
Dec-25 | Z | ZF (driver's assistance unit) |  | ZF's driver's assistance unit develops advanced driver assistance systems including sensors, cameras, and software for automated braking, lane keeping, and adaptive cruise control in vehicles worldwide. | Harman | $1.6B | - |
Dec-25 | Z | ZF Group (ADAS unit) | | ZF Group ADAS unit develops advanced driver assistance systems as part of the global automotive supplier ZF Group. | Harman | $1.6B | - |
Mar-26 | Blacklane | | Blacklane is a Berlin-headquartered chauffeur service operating in over 500 cities across 50 countries, providing carbon-neutral airport transfers, hourly hires, intercity journeys, and corporate travel in premium hybrid and electric vehicles. The company features real-time flight tracking, meet-and-greet options, a mobile app for bookings, and partnerships with airlines and hotels, maintaining carbon neutrality since 2017 through offsets and sustainable fleet choices. | Uber | $1.1B | - | |
Jun-25 | Pioneer Corporation |  | Pioneer Corporation is a Tokyo-headquartered manufacturer of consumer and professional electronics, producing car navigation systems, AV receivers, Blu-ray players, and DJ mixers. Founded in 1938, the company supplies plasma displays, plasma TVs, and automotive audio worldwide, with media software including DVDs and CDs distributed globally. | CarUX | $1.1B | - | |
Jun-25 | Curtis Instruments |  | Curtis Instruments is a Liverpool, New York-headquartered designer and manufacturer of components for electric vehicles and industrial machinery. Founded in 1969, it produces motor speed controllers, DC-DC converters, displays, throttles, and battery management systems. The company serves mobility OEMs in golf carts, forklifts, scooters, and off-highway equipment globally from facilities in the US, Europe, and Asia. | Parker Hannifin | $1.0B | 3.1x | |
Jul-25 | N | NXP Semiconductors (MEMS Sensors unit) |  | - | STMicroelectronics | $950M | 3.2x |
Feb-26 | A | ams OSRAM (non-optical sensor unit) |  | ams OSRAM's non-optical sensor unit specializes in analog and mixed-signal sensors for industrial and automotive applications worldwide. | Infineon | $673M | 2.6x |
Mar-26 | Auto.ru |  | Auto.ru is Russia's leading online portal for new and used cars, trucks, and automotive parts. Moscow-based since 1997, the platform features extensive classifieds, model catalogs, manufacturer news, test drives, and forums. Auto.ru supports sales of tires, accessories, and commercial vehicles alongside job listings in the auto sector. | T-Technologies | $456M | - | |
Aug-25 | InfoMedia |  | InfoMedia is an Australian software provider for the automotive sector. Brisbane-headquartered, it develops platforms for parts catalogs, service manuals, and technical data distribution connecting manufacturers, dealers, and customers. | TPG | $376M | 4.0x | |
Aug-25 | H | Harman (digital transformation solutions unit) | | - | Wipro | $375M | 1.2x |
Jan-26 | Vehiclecare |  | Vehiclecare is an India-based online platform for automotive service and damage repair serving car owners, fleets, manufacturers, insurers, and brokers through digitized assessment and management. | Roadzen | $277M | - | |
Oct-25 | TrueCar | | TrueCar Inc is a data-driven online platform operating on common technology infrastructure, powered by proprietary data and analytics. It also customizes and operates its platform for affinity group marketing partners, including financial institutions like PenFed and American Express; membership-based organizations like Consumer Reports, AARP, Sam’s Club, and AAA; and employee buying programs for large enterprises such as IBM and Walmart. The Company has one operating segment, with three distinct service offerings: Dealer products and services, OEM incentives, and other. | Fair | $237M | 1.3x | |
Jun-25 | AutoDisk | | AutoDisk is a Utrecht-based software developer focused on mobility applications and business tools for transportation sectors. | Main Capital Partners | $216M | - |
Most active buyers of AutomotiveTech companies
Book Technologies Limited, CarData and AutoManager are the most active acquirers of AutomotiveTech companies in the last three years.
See all AutomotiveTech acquirers| Logo | HQ | Description | Key acquisitions | ||
|---|---|---|---|---|---|
B | Book Technologies Limited | | Book Technologies Limited is a UK-headquartered developer of transportation software. It owns Miriam Farid Publications and taxi groups in Bradford, Sheffield, Leeds, and Manchester. Focused on consumer apps for ride-hailing and driver benefits since 2015, its platforms operate in northern England, integrating payments and dispatching for 1,000 licensed vehicles. | Bradford Taxi Group LimitedTaxi Group Ltd.Leeds Taxi Group+2 | 5 |
CarData | | CarData is a vehicle merchandising firm specializing in on-lot services for car dealerships, including professional photography, 360-degree videos, and live walk-around tours. Operating nationwide from Denver, Colorado since 2015, it equips over 300 dealerships with branded content for online inventory listings on platforms like AutoTrader and Cars.com. The company's mobile teams capture high-resolution assets, boosting vehicle sales velocity by an average of 20 percent. | DiamondLotDealer VisualAutoNetTools+1 | 3 | |
AutoManager | | AutoManager is an Orlando-based dealer management system for collision repair shops in North America. The software manages estimates, parts ordering, customer scheduling, and accounting through modules integrated with QuickBooks and Mitchell estimating tools. It serves thousands of auto body facilities with mobile apps for technicians and real-time reporting. | MacrosmithEverLogicAutoAp | 3 | |
Harman | | Harman International Industries is a Stamford, Connecticut-headquartered subsidiary of Samsung Electronics that engineers audio, infotainment, and connected technologies for automotive, consumer, and professional markets worldwide. The Automotive division supplies systems to vehicle makers including BMW, Toyota, and Mercedes-Benz under brands like JBL, Harman Kardon, and Lexicon. Consumer offerings feature home theater speakers and portable audio from AKG and Infinity distributed through retailers such as Best Buy. Professional products include JBL loudspeakers and Crown amplifiers for stadiums, arenas, and broadcast facilities. The company also licenses QNX software for embedded applications in medical devices and industrial automation. | ZF (driver's assistance unit)ZF Group (ADAS unit)Sound United | 2 | |
Uber | | Uber Technologies is a technology provider that matches riders with drivers, hungry people with restaurants and food couriers, and shippers with carriers. The firm's on-demand technology platform is currently utilized by traditional cars as well as autonomous vehicles, but could eventually be used for additional products and services, such as delivery via drones or electronic vehicle take-off and landing (eVTOL) technology. Uber operates in over 70 countries, with over 202 million users who order rides or food at least once a month. | BlacklaneDantaxiVoi+1 | 2 | |
Hexagon |  | Hexagon is the global leader in digital reality solutions, combining hardware such as sensors and measuring devices, software, and services. Customers are mainly in heavy industry such as oil and gas, mining, construction, manufacturing, chemicals, and agriculture. Major products include measuring technology, mapping tools, and software. Around 40% of revenue is generated in the Americas, 35% in Europe, the Middle East, and Africa, and the rest in Asia. | Inertial SenseAero Photo Europe InvestigationWaygate Technologies | 2 | |
Valsoft |  | Valsoft Corporation is a Montreal-headquartered firm acquiring and scaling vertical market software businesses. It targets established SaaS providers in niche industries, integrating technology services to expand customer reach and operational efficiency across sectors like public safety, healthcare, and construction. | Quorum Information TechnologiesCarrusNedFox+2 | 2 | |
Vehlo | | Vehlo is an Austin-headquartered provider of automotive repair shop software serving 3,000 U.S. locations. Its tools include digital vehicle inspections, payment processing via Stripe, and repair financing up to $10,000 per job. Founded in 2015, Vehlo integrates with QuickBooks and powers communications through SMS and email blasts. The platform boosts shop revenue by 25 percent on average. | Dealer PayShop-WareTotal Customer Connect | 2 | |
Keyloop | | Keyloop is a Reading-headquartered global supplier of automotive retail software solutions. It partners with dealers and OEMs worldwide to deliver dealer management systems, CRM platforms, and digital retailing tools. Keyloop's cloud-based products streamline vehicle sales, aftersales service, finance, and customer engagement processes. The company serves over 18,000 dealership sites across 58 countries, including major brands like Ford, Volkswagen, and Renault. | Motortech.aiAutomotive Transformation GroupSERTI Information Solutions | 2 | |
Infineon | | Infineon Technologies headquartered in Munich, was spun off from German industrial conglomerate Siemens in 2000 and today is one of Europe's largest chipmakers. The company is a leader in the automotive semiconductor market with prominent products used in active safety and powertrain content within vehicles. Infineon is also the market leader in power semiconductors used to deliver voltage within a wide variety of electrical systems. The company operates in four segments: automotive, or ATV, green industrial power, or GIP, power and sensor systems, or PSS, and connected secure systems, or CSS. | ams OSRAM (non-optical sensor unit)Marvell Technology (automotive ethernet unit)3db access | 2 |
Founders and investors we've worked with
We've supported winning builders across AutomotiveTech and beyond.
Boryszew
We provided buy-side advice to Boryszew, a Warsaw-listed diversified industrial group across automotive, metals and chemicals, on industrial software market mapping and target screening for its buy-and-build strategy.
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MAILINGWORK
We acted as exclusive sell-side advisor to MAILINGWORK, a Chemnitz-based email marketing software platform, on its sale to French digital marketing leader Positive Group.
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TestSolutions
We acted as exclusive financial advisor to Swiss PE firm Patrimonium on its majority stake acquisition of TestSolutions, a Frankfurt-based software testing and IT services provider.
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Rebellion Pay
We acted as exclusive sell-side advisor to Rebellion Pay, Spain's leading Gen Z neobanking platform, on its sale to Turkish consumer fintech unicorn Papara.
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HAPPYCAR
We acted as exclusive sell-side advisor to HAPPYCAR, a Hamburg-based pan-European rental car comparison and booking platform, on its sale to Dutch online price comparison player EasyTerra.
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