
Pinewood.AI to acquire UAE's Seez for $46.2 million
UK-based automotive intelligence platform Pinewood.AI has agreed to acquire Seez for $46.2 million in cash and shares. The share component is expected to grow over the following three years.
Founded in the UAE in 2016 by Tarek Kabrit and Andrew Kabrit, Seez is an autotech company that provides car dealerships and OEMs with software solutions to improve their customer experience and increase sales.
Last year, Seez raised a $4.2 million investment round, and ever since, it has expanded globally to 16 markets ranging from Mexico to Australia.
Press release:
Seez, a Dubai-based innovator in AI-powered automotive solutions, has announced its proposed acquisition by Pinewood Technologies Group PLC ('Pinewood.AI') for an equity value of $46.2 million in a combination of cash and shares, with the share component expected to double in the next 3 years. Founded in 2016 by Tarek Kabrit and Andrew Kabrit, Seez began with a disruptive idea: an app identifying any vehicle—from a single picture (Shazam for cars) This vision quickly attracted nearly 3 million users. Recognising the evolving needs of both consumers and dealerships, Seez pivoted, transforming from a popular mobile app into a world-leading auto AI company.
Today, having expanded globally to 16 markets ranging from Mexico to Australia, Seez offers a complete AI- and ML-powered SaaS platform built on proprietary technology. Their products include an AI virtual assistant, e-commerce and omnichannel modules, and AI-powered digital marketing services. Seez serves a growing roster of Tier 1 clients, including leading automotive dealer groups, OEMs, and online classifieds, and has secured key partnerships with top finance, insurance, and SaaS providers globally. The company's rapid growth is evident in its $4.4 million annual recurring revenue as of December 2024, marking a 5x increase compared to the previous year, with projections to triple again by December 2025.
Pinewood.AI's proposed acquisition of Seez delivers a powerful combination of advanced AI capabilities, a loyal customer base, and a strong financial foundation, all while capitalising on the growing importance of AI in automotive retail. With over 1,300 customer rooftops and a high-margin, recurring revenue model, Seez adds immediate value to Pinewood.AI. This strategic move is strongly supported by Lithia Motors Inc., Pinewood's parent company and the largest dealer group globally, which plans to integrate Seez's AI Virtual Assistant, Seezar, across its global network of dealerships.
Tarek expressed his enthusiasm for the partnership, stating, "We are thrilled to join forces with Pinewood at such a pivotal moment in the automotive industry. By combining our advanced AI-driven solutions with Pinewood's proprietary data and deep dealer integrations, we are creating a next-generation platform that will empower dealerships with smarter, more efficient tools to drive growth." Tarek emphasised that the acquisition accelerates Pinewood's expansion into the North American market while allowing both companies to redefine how dealers interact with technology, streamline operations, and enhance customer experiences. "The future of automotive retail is intelligent, autonomous, and data-driven—and we couldn't have asked for a better partner to make that future a reality," he added.
Pinewood.AI CEO Bill Burman reflected on the strategic importance of the proposed acquisition, noting that the partnership builds on their strong progress since Pinewood.AI's initial investment in Seez in September 2024. "Seez is an outstanding company that has developed highly sophisticated AI and machine learning products that are increasingly critical tools for the automotive retail market and they are highly complementary to our own Automotive Intelligence Platform." Burman said.
This proposed acquisition positions Seez and Pinewood as trailblazers in the automotive sector. Together, they aim to lead the charge in providing smarter, more efficient industry solutions that help their
customers unlock value, drive performance and profitability. That's Pinewood.AI + Seez, an AI powered secure, end-to-end, fully cloud-based ecosystem designed by car people for car people.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Al Bawaba
3 hours ago
- Al Bawaba
DIB Marks 50 Years of Progress with Prizes Worth AED 10 Million for Customers
In celebration of its Golden Jubilee, DIB - the largest Islamic bank in the UAE, announced the launch of its massive rewards campaign Fiesta 50, giving away up to AED 10 million in prizes. Open to both current and new customers, the campaign is DIB's way of expressing heartfelt gratitude to the millions who have supported its journey over the past five decades and an invitation to join the bank as it enters the next chapter of its remarkable progress – one that never until the end of 2025, Fiesta 50 promises to be one of the most thrilling customer reward campaigns in the UAE, with 50 lucky winners selected every month from four distinct prize categories. At the heart of each month's draw is a spectacular Grand Prize of up to AED 250,000, offering customers the chance to win 10 times their account balance or foreign exchange transaction Fiesta 50, DIB is turning its anniversary into a collective celebration of success. This initiative honours the trust and loyalty that customers have shown over the years, offering rewards that truly reflect the bank's gratitude. As part of this exciting campaign, DIB customers will get the chance to be one of the 50 winners every month selected for special prizes that include:• One-Month Salary – 20 individual customers earning a minimum monthly salary of AED 5,000 will qualify to win one month's salary, up to AED 60,000.• Free Airline Tickets – 17 individual or business customers, maintaining a balance of AED 10,000 or have conducted a foreign exchange transaction for the same value, will be awarded airline tickets worth up to AED 30,000.• Finance Instalments / Card Balances – 12 individual customers will win finance instalments or card balances up to AED 14,000.• Grand Prize – One individual or business customer per month will win 10X of their account balance or Foreign Exchange transaction value up to AED 250, engaging in relationships such as Salary Transfers, individual or Business Current or Savings accounts, or financing products including Personal, Auto, Home Finance and Covered Cards will automatically qualify for these exciting monthly on the campaign, Sanjay Malhotra, Chief Consumer Banking Officer at DIB, said: 'Fifty years ago, we set out to build more than just a bank, we built a movement. One rooted in faith, trust, and progress. Today, Fiesta 50 is our way of turning that gratitude into action, thanking our customers for being an integral part of this inspiring journey. Whether you have been with us for decades or just joined DIB family, this is your time to grow, gain, and be part of what comes next —because at DIB, Progress Never Stops.''Our Golden Jubilee is a moment of pride not just for the bank, but for our entire community. As we look ahead, we remain committed to delivering meaningful, innovative and rewarding banking experiences — empowering our customers to be part of a future where progress continues' Mr. Malhotra added. The Fiesta 50 campaign builds on the momentum of DIB's 50th anniversary celebrations, including the unveiling of its bold new corporate brand identity anchored in the promise: 'Progress Never Stops.' Since its inception, DIB has helped shape the global Islamic finance landscape, serving today over 5 million customers across seven markets with assets exceeding AED 355 billion.


Al Bawaba
4 hours ago
- Al Bawaba
S&P and Moody's Upgrade Emaar's Credit Ratings, Citing Strong Financial Performance and Robust Revenue Visibility
Emaar Properties PJSC (DFM: EMAAR), one of the world's most valuable and respected real estate development companies, has announced that both S&P Global Ratings and Moody's Ratings have upgraded the company's long-term issuer credit ratings, reinforcing Emaar's position as a financially resilient and strategically agile market leader. S&P Global Ratings upgraded its long-term issuer credit rating to BBB+ from BBB, with a stable outlook, while Moody's upgraded Emaar's long-term issuer rating to Baa1 from Baa2, also with a stable outlook. These upgrades reflect Emaar's robust financial fundamentals, consistent performance, and sound strategic direction. The same S&P and Moody's rating upgrade has been applied to Emaar's senior unsecured debt. Strong Financial Position and Strategic Execution As of March 2025, Emaar reported a revenue backlog of approximately AED 127 billion (US$ 34.6 billion), providing strong revenue and cash flow visibility through 2028. The company's recurring income portfolio continues to expand, supported by disciplined execution, resilient operations, and diversified income streams. S&P's upgrade was driven by Emaar's record-high backlog of AED 110 billion (US$ 29.9 billion) as of December 2024, and healthy presales in the UAE of AED 65.4 billion (US$ 17.8 billion) during 2024, alongside a net cash position, low leverage, and strong adjusted EBITDA margins. Moody's highlighted significant reduction in adjusted debt of Emaar from 2020 to March 2025 and the drop in debt to equity ratio over the same period. Commenting on the announcements, Mohamed Alabbar, Founder of Emaar, said: "We are proud to receive this recognition from both S&P and Moody's, which underscores the strength of our strategy, the quality of our assets, and the discipline we maintain in financial management. These upgrades reflect not only our performance, but also the confidence in Dubai's economy and real estate market. We will continue to pursue sustainable growth, innovation, and value creation for our shareholders and stakeholders alike." Liquidity and Resilience Emaar reported an interest coverage ratio of approximately 24 times for the twelve months ending March 2025 and holds AED 25.4 billion (US$ 6.9 billion) in cash (excluding escrow balances), along with AED 7.4 billion (US$ 2 billion) in undrawn committed credit facilities, providing ample liquidity and financial flexibility. S&P noted that Emaar's strong mall, hospitality, and entertainment operations, in addition to the resilience of its real estate development business, contributed to the rating action. Dubai Mall, for instance, recorded over 111 million visitors in 2024, with overall mall portfolio occupancy of 98.5%, showcasing the strength of Emaar's recurring income-generating assets. Outlook Both agencies issued a stable outlook, reflecting their expectation that Emaar will maintain solid credit metrics, strong liquidity, and continued operational performance. These dual upgrades reinforce Emaar's reputation as a leading player in the global real estate sector, anchored in a dynamic and fast-growing market.


Al Bawaba
a day ago
- Al Bawaba
Emaar Properties Launches VYOM
Emaar Properties proudly announces the launch of VYOM, a groundbreaking digital resale platform set to redefine the way Emaar homes are bought and sold. Purpose-built for today's discerning homeowners and investors, VYOM offers a seamless, end-to-end experience that is transparent, secure, and powered by the innovation and trust that define VYOM, users gain complete control over the resale process—creating listings, uploading property images, and managing inquiries directly—all within an intuitive interface. This is a transformative step in Emaar's ongoing digital evolution, offering a smarter, frictionless alternative to traditional resale methods.'As the real estate landscape shifts, so must we. VYOM is more than a platform—it's a new way of thinking about property resale. It puts autonomy, trust, and speed into the hands of our customers,' said Mohamed Ali Alabbar, Founder of Dubai's real estate market continues its dynamic growth, VYOM tackles long-standing inefficiencies such as pricing discrepancies, market opacity, and communication gaps. The platform enhances transparency and facilitates direct engagement between buyers and sellers—fostering fair, informed transactions. Now live and accessible globally, VYOM marks a bold new chapter in Emaar's commitment to delivering customer-first solutions across the full property ownership journey—from purchase to resale, and soon, to rental.