NextCar, the fintech and insurtech vehicle subscription platform founded by auto retail, auto finance, and insurtech entrepreneurs Scott Painter and Georg Bauer, announced it has completed the acquisition of the Autonomy brand and IP brand library from Micro Focus.
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The acquisition of Autonomy includes the primary global domain, Autonomy.com, along with a family of country and subdomain extensions as well as trademark applications, goodwill, and related brand IP. Autonomy was previously a Hewlett-Packard company that was later acquired by Micro Focus.
“Autonomy, which stands for freedom, is more meaningful post-pandemic. Mobility is at the core of what makes us feel free, so access to it should be flexible, easy, and affordable,” said Scott Painter, co-founder and CEO of NextCar.
“Customer acquisition cost is one of the critical factors in determining the success of any business. Going to market with a compelling brand that people can relate to in tandem with a magical product and consumer experience creates a moat for any business and is the foundation for scaling this business profitably,” added Painter.
Scott Painter has been at the forefront of the digital revolution in automotive over the past 20 years, with a singular mission to make buying and owning a vehicle easier through technology. He has founded dozens of clarion automotive technology and fintech brands that have found mass appeal with in-market car shoppers. Each of these brands represents innovations that have advanced how consumers and dealers go to market, while easing the friction in the auto retail and auto finance experience.
Painter’s co-founder, Georg Bauer, is widely considered one of the architects of modern vehicle leasing. He was the founding CFO and later CEO of Mercedes-Benz Credit Corporation and subsequently led the expansion of BMW Financial Services globally.