- PRPI’s blockchain expertise serves as perfect bridge between two new acquisitions
- Worldwide Auctioneers, AutoGrafic Software System both bring unique technology, experience and talent to the table
- Perpetual announced plans to create a new division
Two recent acquisitions by Perpetual Industries (OTC: PRPI), a company whose mission is to perpetuate industry by bringing value-added technologies to market, are strategically aligned to create a unique offering in the world of collector cars. PRPI’s blockchain expertise serves as the perfect bridge between the two newly acquired companies, allowing them to come together in a synergistic offering designed to provide auto collectors, enthusiasts, restorers and lovers a more interactive and connected experience.
Earlier this year, PRPI acquired the Worldwide Group LLC., which operates as Worldwide Auctioneers (https://ibn.fm/6jqTO). Worldwide is a U.S.-based boutique auction company specializing in the sale and acquisition of classic vintage automobiles at auction around the world. Perpetual Industries CEO Brent Bedford noted that the Worldwide team’s “entrepreneurial spirit is a good match with ours, and I am looking forward to achieving greater growth in Perpetual while playing a key role in reaching the future goals of Worldwide.”
The announcement noted that the acquisition presented multiple channels of collaboration within PRPI’s blockchain division that would create greater diversity and revenue streams for the company. PRPI’s resources and capital enable Worldwide to transform the way it supports its customers, offering its buying and selling services on a much larger scale.
On April 6, 2021, PRPI announced a second strategic acquisition: the company completed its acquisition of AutoGrafic Software System, software as a service (SaaS) and social application that utilizes cutting-edge technology to host a myriad of aspects for automotive promotion and preservation (https://ibn.fm/iqZQh).
“This acquisition provides another foundational piece in our quickly expanding blockchain division and, in addition to outstanding software, augments our team with some truly exceptional talent,” Bedford stated. “It will also greatly benefit Worldwide Auctioneers, our newly acquired wholly owned subsidiary, by bringing much-needed new technology and innovation to their customers and the collector car industry at large.”
In conjunction with the acquisitions, Perpetual announced plans to create a new division of the company, bringing the combined expertise of all its resources together in a robust, comprehensive service. Future offerings will include a mobile app, loyalty program, tokenization on the blockchain and a full suite of additional multidimensional features. Using a mobile phone or web browser, AutoGrafic users will be able to access these offerings based on which free or premium subscription-based plan they choose.
The Specialty Equipment Market Association (“SEMA”), the trade association to car, truck and SUV enthusiasts, recently revised its definition of classic cars to include cars produced through the 1980s (https://ibn.fm/0Udw4). That move introduces a whole new generation of classic vehicle owners into the space, owners who “can be at times very different from the customers we’re used to,” the report notes. “Having grown up with the internet, they are more than comfortable going online to learn the skills they need to work on their classic, shop for parts, and connect with other classic vehicle enthusiasts.”
This announcement only increases the potential in U.S. classic car market, a market that recorded revenue of approximately $12.63 billion in 2020 and is projected to reach $15.5 billion by 2021 (https://ibn.fm/a0540). Perpetual’s recent acquisitions and future plans position the company to make the most of this growing opportunity.
For more information, visit the company’s website at www.PerpetualIndustries.com.
NOTE TO INVESTORS: The latest news and updates relating to PRPI are available in the company’s newsroom at https://ibn.fm/PRPI
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