Hagerty Announces the Acquisition of Speed Digital

Hagerty Adds Speed Digital to its Growing Ecosystem of Automotive Lifestyle Products and Services

Hagerty, Inc. (NYSE: HGTY), an automotive lifestyle brand and a leading specialty insurance provider focused on the global automotive enthusiast market, today announced the acquisition of Speed Digital, an industry leading provider of cloud-based technology solutions for dealers, auction houses, collectors  and enthusiasts.

“When we talk about our passion for strengthening and growing car culture for future generations, we mean the whole automotive ecosystem, including those who help get collector cars in the hands of enthusiasts,” said McKeel Hagerty, CEO of Hagerty. “We believe that the scale and scope of Hagerty’s media reach and membership offerings, along with our technological capabilities and other resources, will help current and future Speed Digital clients improve their businesses and attract even more customers.”

Speed Digital software processed approximately $1.5 billion in collector car sales in 2021 and the overall network of websites received over 300 million page views during that same period.

Speed Digital’s key products include:

  • Dealer Accelerate, a subscription-based software service that helps more than 200 dealers manage more than 8,200 collector cars in inventory for sale.
  • Motorious.com, an online marketplace featuring dealer-verified collector cars for sale, as well as engaging content about vintage and exotic cars.
  • Auction Accelerate, featuring software built specifically for collector car auction companies.
  • Private Collection, digital asset management software developed for the nuances of managing collector cars.

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The acquisition of Speed Digital augments Hagerty’s portfolio of Marketplace offerings, including Hagerty Valuation Tools and DriveShare, to help members buy, sell and rent collector cars.

Speed Digital CEO Neil Pitt will join Hagerty as Vice President and General Manager of Speed Digital. Speed Digital employees will join Hagerty’s Marketplace team.

“We are thrilled to join forces with Hagerty,” said Pitt. “Their passion for the automotive world is unrivaled, and we see this as an extremely positive development for the Speed Digital Dealer Network, the Speed Digital team and the overall collector car community. Our team is looking forward to taking this next step.”

Speed Digital’s founder and Chairman, Rob Kauffman, is an experienced investor in the financial services industry, race team owner and noted car enthusiast. He is a board member of Hagerty.

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