The merger combines the strengths of both companies, leveraging Urgent.ly's innovative technology and Agero's extensive operational scale, which serves over 150 million vehicles and manages approximately 13 million service events annually. The merger aims to redefine roadside assistance through advanced technology, AI, and data insights, ultimately improving customer satisfaction and operational efficiency.
Matthew Booth, CEO of Urgent.ly, expressed optimism about the merger, stating that it aligns with their commitment to enhancing the roadside experience through sophisticated technology. The merger is anticipated to close by the end of May 2026, subject to customary closing conditions, including the tender of a majority of Urgent.ly's outstanding shares.
In conjunction with the merger, Urgent.ly also reported its financial results for the fourth quarter and year ended December 31, 2025. The company achieved a revenue growth of 4% year-over-year, with a gross profit increase of 23%, reflecting a gross margin expansion to 26%. Furthermore, Urgent.ly reported a significant reduction in GAAP operating loss, improving from $4.6 million in the previous year to $2.5 million, indicating a positive trend in operational execution.
The merger agreement includes customary representations and warranties from both parties and outlines the operational commitments of Urgent.ly during the interim period leading up to the merger. The company is also subject to customary 'no-shop' restrictions, ensuring that it focuses on the merger while maintaining its operational integrity.
Overall, this merger is seen as a strategic move to consolidate resources and enhance service delivery in the roadside assistance sector, positioning both companies for future growth and innovation.
