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Santander plans to grow its fleet from 43,375 vehicles to around 130,000 vehicles within five years to make it the fifth-largest contract hire provider in the U.K.
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The new subsidiary is part of an ambitious strategy to increase Mobilize Financial Services' fleet size of 350,000 vehicles to 1 million by 2030.
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IDS is a U.S.-based leader in the provision of enterprise mission-critical solutions for secured finance. The purchase of White Clarke Group, which provides software solutions and consultancy services to more than 100 of the world’s largest banks, captives and independent finance organizations in 30 countries around the globe, makes the combined new business a “software technology powerhouse” serving the $7 trillion secured finance industry globally.
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Options include cash purchases, long or short-term leasing and traditional financing.
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