“We see a great fit with our existing products and services in the Opus IVS division. “We are excited about the acquisition of AutoEnginuity due to the company’s status as a leader in multi-brand advanced automotive diagnostics and it being widely used in the US collision scanning market,” Geilen said in a statement. “We are looking forward to having the AutoEnginuity employees become a part of the Opus family”ĭrew said Mesa, Ariz.-based AutoEnginuity covers 56 OEMs brands, “including all important U.S., European and Asian brands.” AutoEnginuity’s website describes its capabilities as extending to companies like Ferrari and Lamborghini as well as more mainstream brands. “I want to express a warm welcome to the employees at AutoEnginuity,” Opus CEO Lothar Geilen said in a statement. “AutoEnginuity management signed multi-year employment agreements all staff are expected to continue working under the Opus ownership,” the company wrote.
It also might kick in more money over the next five years “depending on performance of the AutoEnginuity business.”Īnyone your shop dealt with at AutoEnginuity should be sticking around, according to Drew. “Their broad coverage and diagnostic depth represent an interesting growth potential for Opus IVS,” Drew, a subsidiary of Opus IVS and a fellow scan tool manufacturer, wrote in a news release.ĪutoEnginuity brought in $4 million worth of revenue in 2019, with earnings before interest, taxes, depreciation and amortization of about $2.3 million, according to Drew.ĭrew said it paid AutoEnginuity $10 million and would pay $5 million each of the next two years. Calling the company “widely used in the US collision scanning market,” Drew Technologies announced Friday it had acquired AutoEnginuity for $20 million.
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