Cliff Banks - The Banks Report

Automotive Retail Tech & Investor Conference Returns to Austin in December 2021

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

Rodo Lands Big Investors as Investment in Auto Digital Retailing Remains Hot

Rodo Lands Big Investors as Investment in Auto Digital Retailing Remains Hot

(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

Layoffs at DealerSocket, Omnitracs Further Evidence Vista Equity is Preparing an IPO for Solera

Layoffs at DealerSocket, Omnitracs Further Evidence Vista Equity is Preparing an IPO for Solera

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…

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Cliff Banks - The Banks Report

J.D. Power’s Purchase of Darwin Shows a Sector Moving Into Acquisition Phase

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…

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$150 Million Investment Gets Automotive DMS Startup Tekion a $1.1 Billion Valuation

$150 Million Investment Gets Automotive DMS Startup Tekion a $1.1 Billion Valuation

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

Thoma Bravo Adds Two New Firms to the Growing J.D. Power Empire

Thoma Bravo Adds Two New Firms to the Growing J.D. Power Empire

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,…

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Ansira Completes Acquisition of CDK’s Digital Marketing Business

Ansira Completes Acquisition of CDK’s Digital Marketing Business

April 22, 2020 — Ansira Partners this morning announced it has finalized the purchase of CDK Global Digital Marketing Business and is renaming it Sincro. including all advertising solutions and website services. The deal positions Ansira to expand its automotive business, specifically with General Motors, one of CDK’s top OEM clients. Ansira has had a… Continue Reading

2020 Auto Retail Vendor M&A Outlook — Fast & Furious Start With Surprises

2020 Auto Retail Vendor M&A Outlook — Fast & Furious Start With Surprises

February 3, 2020 — A month into the new year and there have been seven investments and acquisitions announced with at least one more expected in the next several days in the auto retail vendor space. The January activity continues the pace set in 2019 in which more than 70 acquisitions and investments were transacted.…

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