Agero to acquire Urgently for $5.50 per share
Roadside assistance and driver safety services provider Agero announced an agreement to acquire digital roadside assistance platform Urgently for $5.50 per share in cash. The combined platform will serve more than 150 million vehicles and manage around 13 million roadside events annually.
Under the agreement, a wholly owned subsidiary of Agero will launch a tender offer to acquire all outstanding Urgently shares. The transaction is expected to close by the end of May 2026, subject to customary closing conditions, and Agero will remain privately held following the acquisition.
Background: Urgently went public on October 19, 2023, after merging with Otonomo Technologies and began trading on Nasdaq under the ticker ULY. At the time, the combined company was valued at about $282 million, compared with a current market capitalization of roughly $4.5 million.
“Urgently has established a strong presence in the automotive, fleet and rental markets with its tech-forward approach. By enhancing that foundation with Agero’s platform, service provider network depth and quality, and unmatched scale, we’re positioned to redefine what’s possible in roadside assistance and deliver even greater value to the clients and customers we serve. We’re uniting the best ideas, technology, and talent from Agero and Urgently to create a stronger platform for the entire roadside assistance ecosystem. Our priority is ensuring a seamless experience for the partners who rely on our services every day. Clients will continue working with the same teams and systems as we thoughtfully evaluate how to combine the best capabilities from both organizations.” – David Ferrick, President and CEO of Agero.
“This acquisition presents a natural fit. Agero shares our commitment to continually improving the roadside experience through sophisticated technology and unmatched data scale. Together, we will elevate how we serve our customers by combining our strengths to accelerate innovation and growth.” – Matthew Booth, CEO of Urgently.
