April 17, 2018 — CDK Global announced this morning it has acquired Progressus Media, a mobile ad platform with solutions for social, display and search advertising. The company will be part of CDK’s Digital Advertising Group led by Jen Cole.
Progressus Media, headquartered in Chicago, was co-founded in 2012 by Drew Marticke. CDK will maintain Progressus’ current office in downtown Chicago. The acquisition signals that CDK plans to put a greater emphasis on advertising in the social media space this year.
“We are excited to bring the Progressus Media team into the CDK family,” Cole said in a press release announcing the deal. “Our data-driven solutions, which help to put the right targeted messages in front of consumers at the right time in their shopping journey, combined with Progressus’ advanced technical capabilities, mobile conversion focus, and subject-matter expertise, uniquely position us to provide competitive solutions in this rapidly changing market.”
Financial terms of the transaction were undisclosed. Presidio Technology Partners acted as the exclusive advisor to Progressus Media.
The deal follows today’s earlier announcement of Carvana’s purchase of the Mark Cuban-backed augmented reality firm Car360. It’s the third deal this month in the automotive retail vendor space and 20th of the year.
For more analysis, read TBR’s report on first quarter M&A activity among auto retail vendors.