BDO has advised Volkswagen Financial Services on the acquisition of the digital platform Voya GmbH. As part of this transaction, Volkswagen Financial Services purchased 100 percent of the shares in Voya, inter alia from Rockaway Capital, the Czech private equity firm.
Voya, based in Hamburg, has developed a leading mobility platform for online bookings for flights, hotels, trains und rental cars with personal service, supported by machine learning. The platform can also be used as a white-label solution by companies in the travel and mobility industry. Fleet and travel management are gradually growing closer together in many companies and Volkswagen Financial Services will be able to provide their fleet customers with a corresponding offer in the future based on Voya.
Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania brand and Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, the bank and insurance business, fleet management and mobility offers.
A team of BDO AG Wirtschaftsprüfungsgesellschaft advised Volkswagen Financial Services through the transaction process resulting in closing of transaction in June 2020.