Malaysia-headquartered integrated car e-commerce unicorn Carsome Group has acquired a 51 per cent stake in Singapore-based auto solutions company CarTimes Automobile.

The transaction details remain undisclosed.

This follows Carsome’s recent announcement of completing its acquisition of iCar Asia.

Commenting on the new deal, Carsome Co-Founder and Group CEO Eric Cheng said: “This partnership will enable us to deepen our footprint in the Singapore auto market and augment our ability to bring trust, choice, and transparency together to customers.”

According to CarTimes Founder and Managing Director Eddie Loo, this partnership is crucial in assisting it in serving customers better and providing them with the resources to digitise and improve the two-decade-old relationship they have with their customers.

Also Read: Carsome completes acquisition of ASX-listed content automotive platform iCar Asia

Established in 2001, CarTimes offers a suite of auto solutions ranging from new and used car retail, rental, financing, insurance to repair, maintenance and workshops. It has retail showrooms and after-sales service centres across Singapore.

Carsome is one of the largest integrated car e-commerce platforms in Southeast Asia. It provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing.