SOFICO acquires UBench for undisclosed amount
SOFICO, a global provider of contract management software for automotive finance, leasing, and mobility companies, has announced the acquisition of UBench, a B2B SaaS provider of claims and damage management solutions, in a move to expand its capabilities across the vehicle lifecycle.
The acquisition, described in a company press release as a “strategic” move, is expected to bolster SOFICO’s footprint in the fleet and mobility market by integrating UBench’s expertise in repair and claims management. Financial terms of the deal were not disclosed.
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UBench will continue to operate under its own brand within SOFICO, ensuring “business continuity and product focus” while benefiting from the company’s broader market presence.
“With UBench joining SOFICO, we are combining two platforms that complement each other perfectly,” said SOFICO CEO Gémar Hompes. He added that the companies share a mission to help mobility players “optimise processes and deliver fully connected digital experiences across the vehicle lifecycle.”
SOFICO’s platform currently supports customers across the automotive finance and leasing journey, from contract ideation to remarketing. UBench, meanwhile, brings expertise in the claims and repair segment, offering tools that reduce complexity and improve efficiency.
The companies already share several clients in Europe, including VW Financial Services, BMW Financial Services, Alphabet, and Ayvens.
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By GlobalDataManuel Medinger, CEO of UBench, described the acquisition as “a purposeful alignment of vision, values, and expertise,” noting that SOFICO shares UBench’s “customer focus, pragmatism, and long-term thinking.”
UBench was previously acquired by BASF in 2019, which helped strengthen the platform’s market position through its aftermarket expertise. Chris Titmarsh, Senior Vice President at BASF Coatings, called SOFICO “the ideal partner” to drive UBench’s continued growth.
“We are proud of what we have developed at UBench… and we are looking forward to seeing the platform flourish at SOFICO,” Titmarsh said in the release.
The deal comes amid increasing pressure on European fleet operators and leasing firms to digitalise operations and comply with new regulations in areas like electrification, ADAS technology, and data security.
SOFICO and UBench say the combination of their technologies will offer customers end-to-end visibility, automation, and integration across the vehicle lifecycle, responding to industry demands for more connected ecosystems and best-of-breed solutions.
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