ACQUISITION: Rightboat.com, one of Europe's leading online boat broker portals and sales networks, has announced the acquisition of Rightboat Ltd by Oxygen Marine Ltd, a specialist, technology focused investment business.
Oxygen has initially acquired 100% of the equity in Rightboat, however the deal is structured to provide for the ongoing equity and service participation of the key founding marine shareholders of Rightboat.com in the refocused business.
Oxygen specialises in the application of fresh thinking, underpinned with leading edge technology and sales solutions, in order to help reinvent and reinvigorate traditional sales models and processes.
The result is a significantly enhanced service delivery model and a richer end user experience.
As a result of the acquisition, Rightboat will make further significant investments in its technology and sales and marketing infrastructure in order to provide a much enhanced customer and consumer experience, all geared at helping brokers and their boat owner customers connect with potential boat buyers internationally.
Rob Gray, CEO of Oxygen Marine, said: “We have spent the last 12 months analysing and understanding, in great detail, the boat broker and new boat sales market, along with the selling processes and models involved in all geographic regions.
“The acquisition of Rightboat is the culmination of that work and offers us the ideal platform to deliver to the professional boat broker community, a powerful technology enabled sales and marketing services solution that brings together boat buyers and boat sellers in a seamless process that will result in more boat sales.”
Mike Cook, ex-chairman of Rightboat, said: "The opportunity of acquiring Oxygen’s expertise and access to investment capital was one not to be missed.
As a Board, we were unanimous in our decision to involve Oxygen and have been extremely impressed with Oxygen's professionalism, its understanding of our unique market place and how the sales process operates.
“The ‘new’ Rightboat will combine the application of leading edge technology and an innovative boat sales model to help the broker community and their clients sell more boats.
“We look forward to the full engagement of the boat sales community and the success that the partnership of an established business and a fresh thinking owner will surely deliver.”
Rightboat looks forward to working in partnership with its many current and new customers in both the local and international boat broker and new boat sales community to revolutionise and breathe new life into boat selling.
The business will focus on new technology improvements, including the addition of mobile technologies, to drive more effective lead generation through greater brand awareness of Rightboat and an improved search experience for both consumers and businesses using the portal.
The company says further announcements will follow.
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