February 8, 2022 — Cars.com announced this morning it is acquiring the assets of Accu-Trade, Galves Market Data, and MADE Logistics from founder Robert Hollenshead. Terms of the transaction, which should close within the next month, include an initial cash payment of $65 million with another expected $63 million earnout payment based on certain financial… Continue Reading
October 27, 2021 — As the auto industry continues to manage an ongoing chip shortage, a looming magnesium and silicon shortage is threatening to erode vehicle production even further. Magnesium and silicon are key ingredients in the production of aluminum alloy, which is used in numerous vehicle parts. Silicon also is a main component in…
Follow the money — or more specifically, the investment capital. I became convinced during my 10 years as a reporter and editor at WardsAuto that the investment community fuels much of the vendor growth and strategy in automotive retail. But it is an under-reported and underserved — and often, misunderstood — component of the industry.… Continue Reading
(Photo Source: Shutterstock, Photographer: Jaguar PS) July 28, 2021 — Hollywood actor and noted comedian Kevin Hart sees the upside in automotive digital retailing and has decided to ride along with a group of investors putting $18 million into Rodo, a mobile app that lets customers lease, purchase, or sell a vehicle online. Hart’s investment… Continue Reading
July 21, 2021 — Following a scuttled SPAC attempt earlier this year for portfolio company Solera Holdings, Vista Equity Partners now is planning for an initial public offering later this year or early next year. The original strategy called for partnering with special purpose acquisition company Apollo Growth Strategic Capital, which had raised $817 million…
July 7, 2021 — After more than $200 million being invested in automotive digital retailing firms the last few years, two large strategic transactions in June signaled the sector has entered the acquisition/consolidation phase. A third deal, set to be announced this morning, pushes the total amount spent on purchases of firms offering digital retailing…
October 30, 2020 — Earlier this week, CDK Global and Authenticom settled their lawsuits that were part of several data access-related lawsuits that were consolidated into a multi-district litigation (MDL) in federal court in Illinois’ Northern District. From February 2017 to February 2019 as many as seven vendors and 25 dealerships filed lawsuits against either…
October 22, 2020 — Dealership technology vendor Tekion Corp. announced this morning it has raised $150 million in a recently completed Series C round led by Advent International. Other investors in the latest round are Index Ventures, Exor (the holding company of Fiat Chrysler Automobiles and Ferrari), Airbus Ventures, and FM Capital, which includes a… Continue Reading
August 7, 2020 — Since May 2019, Private equity firm Thoma Bravo has engaged in an acquisition spree in the automotive space compiling a group of five companies providing data and software services to automakers and dealers. In the last 15 months, Thoma Bravo has acquired Autodata Solutions (ChromeData), J.D. Power and Associates, Trilogy Automotive,…
August 5, 2020 — A recent judicial ruling may be the most promising sign yet that third-party technology vendors will soon be free of alleged expensive and restrictive data access policies enacted by CDK Global and Reynolds and Reynolds. On July 24, a judge in Arizona’s District Court ruled against a motion filed by Reynolds…