(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…
Updated: 5-yr growth plan and new online brand unveiled. July 22, 2020 — Lithia Motors’ share price is at its all-time high trading above $195 in early trading this morning — which is up from $62.98 on March 18. The Oregon-based dealer group reported its highest ever second-quarter net income this morning generating $3.72 per… Continue Reading
July 9, 2020 — After a short COVID-19-induced respite in April and May, the dealership buy-sell market is back in business in a big way finishing the first half on par with 2019 activity. All signs are pointing to a sizzling third quarter continuing a pace set in June that saw 22 transactions involving 31…
May 15, 2020 — Despite recent speculation the government will enact a “Cash-for-Clunkers” type deal to help spur car sales as it did in 2009, there are several reasons why a similar play this year likely will not happen. The “Cash-for-Clunkers” program — its official name was the Car Allowance Rebate System (CARS) — was…