UDP Auto formerly Kodix Auto

History

2023: Rebranding and Attracting Investment

On February 7, 2023, the Russian IT product company Kodix Auto announced the rebranding and attracting investments to consolidate the digital ecosystem of the auto industry. The changed name of the company is UDP Auto, with which a different brand logo appeared. Along with external changes, there has been a change in strategy. The consolidation will create a unified IT solutions platform for importers, dealers, and their customers. In other words, UDP Auto is starting to build an analogue of Cox Automotive in Russia.

The logo is made in branded blue. Work is underway on a corporate site to improve navigation and facilitate the submission of product information for customer convenience. The three main principles of UDP Auto are manufacturability, expertise and integration.

The head of the company was CEO Georgy Vekhov, who replaced Kirill Novikov.

Under the leadership of Georgy Vekhov, UDP Auto will implement a strategy to combine digital products of the auto industry into a single platform that creates value for auto brands, dealers and car buyers. As early as February 2023, the UDP Auto ecosystem has part of the important elements of the platform: tools for creating and managing sites, new and used car storefronts, e-commerce and after-sales solutions. Gradually, other IT products will be added to them to provide a "one window" service. It is planned to announce the first partnership agreement. And in the spring-summer of 2023, the first consolidation deal is planned, as a result of which a well-known market player will join UDP Auto.

First of all, I want to thank the whole team for the warm welcome. I will ensure the continuity of the corporate business culture formed by its founder Kirill Novikov over 15 years of work. The UDP Auto team are experts focused on growth and development. Therefore, we conduct an active dialogue with top managers of the world's leading IT companies in the automotive industry to adopt the best international practices. At the same time, we are using our investment resources and negotiating with several local players on the issue of their acquisition and accession to our platform. Investing and using the experience of world IT companies will allow us to create a local leader, - commented Vekhov.

Together with the CEO, the company as the first investment tranche attracted several hundred million. rubles The funds raised are planned to be used to expand the main business and conduct transactions. M&A At the same time, proposals from several to banks provide credit funds in LBO format for the purchase of IT companies in the auto industry are being considered.

Denuo acted as a legal and tax adviser on the transaction. Denuo is one of the multidisciplinary law firms in Russia with offices in Moscow and St. Petersburg.

Supporting investments is one of the important areas of our activity. The IT market needs solutions to new tasks for itself, as well as the resources necessary to enter the vacant niches. To do this, IT-Business of needs "smart investments," − said Igor Smirnov, senior partner of ALTHOUSE. Our mission − to create leaders for a strong country, and we support the development of players in the digital ecosystem of the auto industry, helping them at all stages: from strategy development to deal support.

The financial consultant of the company in the deal to attract an investor was the investment bank Advance Capital.