Velocity Digital gives cloud-centered technology methods for sellers, auction houses, collectors and enthusiasts
TRAVERSE Metropolis, Mich., April 14, 2022 /PRNewswire/ — Hagerty, Inc. (NYSE: HGTY), an automotive life-style brand name and a main specialty insurance plan company focused on the world-wide automotive fanatic market, currently introduced the acquisition of Speed Digital, an business foremost service provider of cloud-based mostly engineering remedies for dealers, auction properties, collectors and fanatics.
“When we discuss about our enthusiasm for strengthening and growing car or truck culture for foreseeable future generations, we mean the full automotive ecosystem, such as those people who enable get collector cars and trucks in the palms of fans,” said McKeel Hagerty, CEO of Hagerty. “We think that the scale and scope of Hagerty’s media attain and membership choices, along with our technological abilities and other methods, will assistance latest and upcoming Speed Electronic customers enhance their organizations and bring in even extra consumers.”
Velocity Digital application processed around $1.5 billion in collector car or truck product sales in 2021 and the general network of web sites been given over 300 million web site views in the course of that same time period.
Pace Digital’s critical goods involve:
- Supplier Speed up, a membership-dependent software program company that helps extra than 200 dealers control much more than 8,200 collector cars in stock for sale.
- Motorious.com, an on-line marketplace showcasing supplier-confirmed collector autos for sale, as properly as partaking information about classic and exotic cars and trucks.
- Auction Speed up, featuring application constructed specially for collector motor vehicle auction providers.
- Private Collection, digital asset management software developed for the nuances of handling collector vehicles.
The acquisition of Speed Digital augments Hagerty’s portfolio of Marketplace offerings, together with Hagerty Valuation Equipment and DriveShare, to support associates purchase, promote and rent collector cars.
Velocity Electronic CEO Neil Pitt will join Hagerty as Vice President and General Manager of Velocity Digital. Pace Digital personnel will be part of Hagerty’s Market crew.
“We are thrilled to sign up for forces with Hagerty,” claimed Pitt. “Their enthusiasm for the automotive environment is unrivaled, and we see this as an exceptionally beneficial progress for the Speed Electronic Dealer Network, the Speed Digital workforce and the in general collector motor vehicle local community. Our staff is looking ahead to taking this next action.”
Speed Digital’s founder and Chairman, Rob Kauffman, is an skilled investor in the economical companies sector, race staff operator and observed motor vehicle enthusiast. He is a board member of Hagerty.
About Hagerty, Inc. (NYSE: HGTY)
Dependent in Traverse City, Michigan, Hagerty’s goal is to help save driving and vehicle culture for long run generations and its mission is to develop a worldwide company to fund that goal. Hagerty is an automotive fanatic brand name offering built-in membership items and plans as nicely as a specialty insurance policy service provider focused on the world automotive fanatic market. Hagerty is household to Hagerty Drivers Club, Hagerty DriveShare, Hagerty Valuation Tools, Hagerty Media, Hagerty Motorists Club magazine, MotorsportReg, Hagerty Garage + Social, The Amelia, the Detroit Concours d’Elegance, the Greenwich Concours d’Elegance, the California Mille, Motorlux, RADwood, the Hagerty Drivers Basis and far more. For extra details on Hagerty, please visit www.hagerty.com, or link with us on Fb, Instagram and Twitter.
For a lot more facts, check out newsroom.hagerty.com.
About Pace Digital
Pace Digital, LLC. is a know-how business that focuses on serving the vintage and collector car or truck field. As a global chief, Speed Digital provides cloud-dependent technological know-how remedies for dealers, auction houses, collectors, and hobbyists. Pace Digital is usually recognized as the business leader for slicing-edge site style and advancement in the specialty auto specialized niche. See www.speeddigital.com for additional facts.
Motorious.com posts information tales relating to the collector motor vehicle marketplace and has the biggest online marketplace of “supplier only” collector automobiles, which includes hotrods, classics, muscle mass autos, motorcycles, and off-highway cars. Motorious.com is owned by Speed Electronic, LLC.
Forward Looking Statements
This push launch has forward-wanting statements inside of the which means of the Non-public Securities Litigation Reform Act of 1995. These forward-searching statements replicate Hagerty’s present intentions, expectations, or beliefs regarding its business enterprise. These statements may well be preceded by, adopted by or contain the terms “intention,” “anticipate,” “think,” “estimate,” “assume,” “forecast,” “intend,” “likely,” “outlook,” “approach,” “probable,” “venture,” “projection,” “look for,” “can,” “could,” “might,” “ought to,” “would,” “will,” the negatives thereof and other text and phrases of comparable meaning. Ahead-wanting statements involve all statements that are not historic facts. Such forward-wanting statements are subject matter to different threats and uncertainties. Appropriately, there are or will be essential components that could result in actual results or outcomes to differ materially from all those indicated in these statements. Components that may perhaps bring about our true selections or outcomes to vary materially from all those contemplated by these ahead-on the lookout statements contain: (i) Hagerty’s skill to realize the expected added benefits of the issue of this release, which may be afflicted by, among the other factors, competitors and the potential of Hagerty to develop and management expansion profitability (ii) the long run financial performance of Hagerty (iii) new entrants into the sector or current opponents of Hagerty creating most popular offerings (iv) the decline of a person or a lot more of Hagerty’s distribution companions (v) Hagerty’s incapability to prevent, watch, or detect fraudulent exercise, like transactions with insurance policy policies or payments of promises (vi) Hagerty’s ability to appeal to and keep associates (vii) Hagerty’s potential to avert cyberattacks or breaches of knowledge stability (viii) regulatory alterations impacting Hagerty (ix) sudden improves in the frequency or severity of insurance policy promises versus Hagerty and other threats and uncertainties detailed in Hagerty’s Type 10-K filed with the U.S. Securities and Exchange Fee on March 24, 2022. There is no assurance that any forward-searching statements will materialize. You are cautioned not to place undue reliance on forward-seeking statements, which reflect expectations only as of this day. Hagerty does not undertake any obligation to publicly update or assessment any ahead-hunting statement, regardless of whether as a final result of new information, potential developments, or or else, except as needed by law.
Any ahead-searching assertion speaks only at the day on which it is made, and Hagerty does not undertake any obligation to update forward-looking statements to replicate situations or conditions immediately after the day they were being created, regardless of whether as a outcome of new information, upcoming occasions or otherwise, apart from as could be essential less than applicable securities guidelines.
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