Vista Equity Completes Acquisition of Solera Holdings

Vista Equity Completes Acquisition of Solera Holdings

March 4, 2016 — After several weeks of uncertainty created by a tanking junk bond market, Vista Equity Partners completed its acquisition of Solera Holdings, a global firm that provides risk and asset management software for the automotive industry. Vista led an investment group comprised of Koch Equity Development and Goldman Sachs in the approximately $6.5… Continue Reading

Cox Automotive Makes Executive Changes; Acquisition in Australia

Cox Automotive Makes Executive Changes; Acquisition in Australia

March 3, 2016 — Cox Automotive made a series of executive changes this week as part of the continued integration resulting from last year’s $4 billion purchase of DealerTrack. The Atlanta-based firm also extended its global reach with the purchase of Dealer Solutions, a technology firm in Australia, in a move that could herald further acquisition activity in the area.… Continue Reading

Tesla Wins Reprieve in Indiana

Tesla Wins Reprieve in Indiana

February 26, 2016 — Tesla has won its latest battle fighting state franchise law designed to keep it from selling vehicles to consumers. at least for a few months. The Indiana Senate Commerce and Technology Committee decided yesterday to send a controversial bill banning manufacturer-direct automotive sales to customers to an interim study committee later this year. House… Continue Reading

CDK Completes Acquisition of Red Bumper, NewCar IQ

CDK Completes Acquisition of Red Bumper, NewCar IQ

February 25, 2016 — CDK Global made it official yesterday announcing it has acquired the product portfolios of NewCar IQ and Red Bumper from Pearl Technology Holdings  LLC. NewCar IQ is a new vehicle inventory management system while Red Bumper helps dealers manage their used vehicle inventories. CDK will combine the two products to create a solution…

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Cliff Banks - The Banks Report

Reynolds and Reynolds Acquires ReverseRisk

February 23, 2016 — Reynolds and Reynolds will announce today that it has acquired ReverseRisk, a web-based analytics reporting platform for automotive dealers. It will become part of Reynold’s Retail Management System. Additionally, NCM Associates’s agreement to resell the platform under the NCM axcessa name will continue following the acquisition. David Spisak, co-founder and president of… Continue Reading

Big Earnings Miss for TrueCar; Perry Manages Expectations

Big Earnings Miss for TrueCar; Perry Manages Expectations

February 18, 2016 — Chip Perry’s first priority as the new CEO of TrueCar is to help the company regain dealer trust. A close second is managing investor expectations of what’s realistic for the public company this year as it makes several investments to position itself for long term growth. Perry laid out his vision…

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Vista’s Acquisition of Solera Not So Simple

Vista’s Acquisition of Solera Not So Simple

February 12, 2016 (UPDATED February 15 – in bold) — The U.S. junk-bond market may be giving the folks at Vista Equity Partners and Solera Holdings some heartburn this week. According to a report in Reuters this morning, Solera is having trouble convincing investors to participate in $4 billion debt sale to back its acquisition…

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Group 1 Buying and Selling

February 6, 2016 — Group 1 Automotive continues to trim its presence in the Northeast divesting of three dealerships there within the last several weeks. Meanwhile, the nation’s third largest dealer group announced this week it has completed the acquisition of the 12-store Spire Automotive Group located in metro London in the United Kingdom. At the end of… Continue Reading