Tantalum Acquires Springworks to Expand Global Connected Car Footprint and Accelerate Innovation
Deal extends connected car access, adds major telecom provider Telia Company in Europe
London – December 17, 2018 – Tantalum Corporation, the connected car platform provider and services aggregator, today announced it has acquired Springworks, a Sweden-based connected car company. Springworks’ customers include major European telecom company Telia and autoSense, which has joint ventures with telecom provider Swisscom and leading car importer and dealer, AMAG. Together, the companies will become one of the largest connected car solution providers in the world with significantly extended scope across the major markets of Europe and the USA.
“Tantalum is committed to providing an unparalleled connected car experience. Springworks bring an even greater reach into European markets, which is an important addition to our recent deals in the USA, as we continue creating a comprehensive connected car marketplace,” said Ozgur Tohumcu, CEO of Tantalum. “Customer demand and network capabilities have primed the industry for explosive growth in connected vehicles, services and data monetisation. Springworks bring both an existing customer base as well as significant experience and expertise applicable on the global stage.”
The deal offers the opportunity for the two companies to combine their strengths, with Tantalum’s Pay.Car and automotive experience complimenting Springworks’ front-end capabilities and experience onboarding service providers like insurance, car dealerships, parking, fleets and repair. The deal follows swiftly on the heels of Tantalum’s recent launch in the US market in partnership with Harman providing application, ecosystem services and payments for the HARMAN Spark product sold exclusively through AT&T. Tantalum and Springworks combined presence in these two key regions will contribute to both current and future deals and partnerships with global telecommunications companies, automotive OEMs and dealerships, while also providing an ideal partner for car service providers.
“By adding the ability to establish ecosystems for car ownership, Springworks took connected car services to another level as well as created new business opportunities for innovative service providers,” said Erik Ramberg, CEO and co-founder of Springworks. “Tantalum is a perfect match for Springworks and our combined capabilities, customers, service providers and partners enables us to continue to drive innovation in the automotive space. Bringing together Tantalum’s strong payment solutions to our ecosystems of service providers is a great example where we become unique and attractive to service providers and cities on their way to Mobility-as-a-Service solutions,” continues Mr Ramberg.