August 17, 2017 — Following a first quarter with only one announced acquisition, the second quarter ended with eight acquisitions, two public offerings and three investments, bringing the mid-year total to 13 deals in the automotive retail vendor space. The rebound puts 2017 on a similar pace with 2016 which saw 31 total deals. Much of…
August 9, 2017 — After seemingly being dominated in the early stages in the antitrust lawsuit filed by Authenticom in May, Reynolds and Reynolds and CDK Global have clawed back to what can be described as a tie. The Seventh District Court of Appeals yesterday granted the two technology firms a stay of the preliminary…
July 14, 2017 — BREAKING NEWS — Authenticom today won its request for an emergency preliminary injunction forcing Reynolds and Reynolds and CDK Global to allow it access to their dealer management systems during the course of the antitrust litigation. Authenticom sued Reynolds and CDK in May alleging the two technology firms engaged in antitrust…
June 4, 2017 — CDK Global’s pending acquisition of competitor Auto/Mate is a brilliant deal that should make investors happy. With only 1,300 or so dealerships in play and a price tag that won’t dent the bottom line (although Auto/Mate will get a nice multiple) it isn’t that big of a deal on the surface.…
May 22, 2017 — Coming off its second most profitable year ever, Ford Motor Co. has decided to replace its CEO and President Mark Fields. The announcement is expected this morning, according to numerous media reports breaking Sunday night. Jim Hackett, former board Ford member and current head of the automaker’s mobility division, is being named… Continue Reading
May 9, 2017 — Tesla’s moment of truth is nearly here. This year’s introduction of its Model 3 may be the auto industry’s most critical vehicle launch since Ford’s Model T took over America’s roads more than a century ago. Whether the fledgling company becomes the ultimate disruptor and a truly viable automaker will be determined by the…
May 2, 2017 — Carvana’s less than stellar first couple of days on the New York Stock Exchange raises questions not only about its business model, but could also impact the IPO plans of other companies in the automotive retail space. The online used vehicle retailer launched its initial public offering last Friday raising $225 million on the…
April 6, 2017 — (UPDATE — SEE BELOW) Acquisition activity among automotive retail vendors has ground to a halt in the the first quarter this year, according to data compiled by The Banks Report. Other than Solera Holding’s purchase of the British-based Autodata the first week of January, there have been no investments, IPOs or acquisitions…
March 18, 2017 — Although 2016 saw a slight downturn in the number of transactions from 2015, dealership buy-sell activity the last three years has stayed fairly consistent, according to data compiled by The Banks Report. And 2017 is shaping up to be on par with the previous three years. From 2015 to 2016, the…
February 20. 2017 (UPDATED) — The industry had a scare last Thursday when it appeared that a large data breach occurred involving several dealer management system (DMS) providers and dealer groups. What actually happened was much more benign, and involved none of the DMS vendors. Nor did the event involve any sensitive personal data. The… Continue Reading