Vendor M&A at Record Levels

Vendor M&A at Record Levels

November 13, 2018 —  A flurry of 26 deals since the beginning of September has pushed the year’s total to 64, a record for investments and acquisitions in the automotive retail vendor space. The blistering pace continued into the first week of November with data analytics firm Marchex’s purchase of Telmetrics and Infomedia’s acquisition of…

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Cliff Banks - The Banks Report

Amazon’s Automotive Play

For Autovate 2018 Attendees September 20, 2018 — Two years ago, Amazon launched its Amazon Vehicles page setting off a flurry of industry predictions the tech giant was preparing to upend and take over the automotive retail space. Not so fast. Amazon is preparing a huge push into automotive, but it’s not going to be… Continue Reading

Cliff Banks - The Banks Report

Former Intel CEO Assumes Top Spot at CDK Global

November 7, 2018 — CDK Global announced this morning it has named Brian Kraznich as president and chief executive officer, replacing Brian MacDonald. Kraznich, 58, spent 36 years at Intel, including serving as its CEO from May 2013 to June 2018. He also was named to CDK’s board of directors. Kraznich generally received high marks for… Continue Reading

CDK, Reynolds and Reynolds Fourth Attempt to Dismiss Antitrust Cases Fails

CDK, Reynolds and Reynolds Fourth Attempt to Dismiss Antitrust Cases Fails

October 23, 2018 — Reynolds and Reynolds and CDK Global and their joint venture Computer Vehicle Registration (CVR) failed in their fourth attempt to dismiss the lawsuits alleging they engaged in several antitrust activities. Late Monday, Judge Robert Dowd in Illinois’ Northern District denied the defendant’s motions to dismiss the lawsuits filed by Motor Vehicle… Continue Reading

Cliff Banks - The Banks Report

Lyft’s RideShare Services Integrated into RedCap’s Transportation Platform

October 11. 2018 — While Lyft executives continue to predict the end of private ownership, the rideshare company is expanding its business into dealerships. It’s latest foray is with RedCap Technologies, which today announced the launch of a new courtesy shuttle solution leveraging Lyft’s Concierge API platform. RedCap, which was acquired by Solera Holdings earlier… Continue Reading

Reynolds Reaches Agreement to Settle Dealer Class Action Lawsuit

Reynolds Reaches Agreement to Settle Dealer Class Action Lawsuit

October 2, 2018 — The Reynolds and Reynolds Company and several dealers part of a class action lawsuit filed against the technology vendor agreed in principle last week to settle, according to a court document filed late Friday. There is no word on what the terms of the pending settlement are. A similar agreement with…

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Amazon’s Automotive Play May Not Be What You Think

Amazon’s Automotive Play May Not Be What You Think

September 20, 2018 — Two years ago, Amazon launched its Amazon Vehicles page setting off a flurry of industry predictions the tech giant was preparing to upend and take over the automotive retail space. Not so fast. Amazon is preparing a huge push into automotive, but it’s not going to be in the sales and…

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