DealerTrack to go Global?

DealerTrack to go Global?

December 5, 2015 — DealerTrack apparently likes to make surprise announcements in December. Last year, it announced the acquisition of Dealer.com in what turned out to be a $987 million deal. Yesterday, the Long Island-based dealer technology firm confirmed it is in preliminary discussions to make another acquisition and will announce its decision by or on January 1,…

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Cliff Banks - The Banks Report

Texas Teachers Invest in Dealerships

November 24, 2014 — Teachers in Texas apparently like the financial prospects of franchised car dealerships. One of the country’s largest pension funds, the Teachers Retirement System of Texas is investing in Capital Automotive, a firm that provides sale-leaseback capital to car dealers, through an investment fund established by Capital’s parent Brookfield Property Partners. Brookfield…

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Cox’s Latest Acquisition — And Another Investment

Cox’s Latest Acquisition — And Another Investment

November 23, 2014 — Cox Automotive  continues to be active in the acquisition space buying the assets of small used car data firm last week, following its $325 million purchase of Xtime two weeks ago. It.has spent approximately $3 billion on both U.S. and international (China and Brazil) acquisitions since 2010. Meanwhile, the Atlanta-based firm…

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Cliff Banks - The Banks Report

Cox Automotive Acquires Xtime

It continues to be a sizzling year for acquisitions in the automotive retail space. The Banks Report has learned the latest company to be acquired is Xtime, a firm that provides technology solutions to dealership service departments. Cox Automotive is announcing this afternoon that it has acquired the Redwood City, CA-based firm for $325 million…

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Autobytel Posts Strong 3rd Quarter

Autobytel Posts Strong 3rd Quarter

November 7, 2014 — Autobytel’s shares jumped 7.59% yesterday closing at $10.06 following a strong third quarter in which the Internet pioneer in automotive retail posted revenue increase of more than 26% from 2013 to $27.4 million — its highest quarterly revenue since 2007. Revenue for the first three quarters was $80.2 million, up 39% from…

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Contact at Once Acquired

Contact at Once Acquired

November 5, 2014 — UPDATED WITH NEW REVENUE INFORMATION — Dealership website chat service firm Contact at Once! has been acquired by LivePerson Inc. (NASDAQ: LPSN) for approximately $65 million. Contact at Once! provides text and chat services for dealership websites in the automotive retail space. It acquired the chat solution of OutSell earlier this year.… Continue Reading

3rd Quarter Dealership Buy-Sell Update

3rd Quarter Dealership Buy-Sell Update

November 3, 2014 –The dealership buy-sell market remains hot through for the year with 200 acquisitions through the third quarter. While Warren Buffett’s announcement brought a renewed sense of energy to the market, it ultimately may dampen potential acquisitions for the next couple of quarters as buyers are content to wait out what is proving to…

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Cliff Banks - The Banks Report

Activist Investor Targets CDK

October 28, 2014 — CDK’s share prices jump as Wall Street welcomes the news of a new investor in the dealership technology vendor. Only trading on NASDAQ just under a month following its spinoff from ADP, dealer technology provider CDK Global already is being targeted by an activist investment group seeking to discuss with management how to…

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