Cliff Banks - The Banks Report

Cox Completes Dealertrack Acquisition

October 1, 2015 — After four extensions and other delays resulting from stipulations from the Department of Justice, Cox Automotive completed the $4 billion acquisition of Dealertrack this morning. Cox is paying $63.25 per share of Dealertrack common stock which ceases trading today on the NASDAQ Global Market. It is the biggest vendor acquisition in the… Continue Reading

DOJ Approves Cox’s Purchase of Dealertrack

DOJ Approves Cox’s Purchase of Dealertrack

September 30, 2015 — The Department of Justice yesterday approved Cox Automotive’s acquisition of Dealertrack provided Dealertrack completes the sale of its Inventory+ solution. The DOJ is requiring the divestiture of Inventory+ because it believes allowing Cox to own both vAuto and Inventory+ would provide Cox with too much of that market , and hence, limit… Continue Reading

IHS – Strong Quarter; Denies Pursuing Solera

IHS – Strong Quarter; Denies Pursuing Solera

September 29, 2015 — The Solera saga takes an interesting turn today as IHS used its quarterly earnings call with analysts to deny media reports that is pursuing an acquisition of Solera. We speculated a couple of weeks ago that Solera would be a good fit for IHS. Both Reuters and Bloomberg reported last week that…

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Cox, Dealertrack Acquisition to Close in October

Cox, Dealertrack Acquisition to Close in October

September 24, 2015 — Despite four extensions of Cox Automotive’s all cash tender offer for Dealertrack, the companies announced today that the deal is now expected to close in October. Executives originally projected the $4.2 billion acquisition would close by the end of the third quarter, but a sale of Dealertrack’s Inventory+ to Dealersocket last month… Continue Reading

Vista’s Acquisition of Solera — Maybe Not

Vista’s Acquisition of Solera — Maybe Not

September 22, 2015 — Vista Equity Partners’ pending $6.5 billion acquisition of Solera Holdings may be on hold as news leaked this week that another buyer has entered the picture creating what may be a bidding war for the service and collision repair software firm. The new potential buyer is IHS, confirming what we speculated…

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Cliff Banks - The Banks Report

Reynolds and Reynolds Strengthens European Solution

September 17, 2015 — Reynolds and Reynolds announced today that its European operations has acquired Contact Advantage, a U.K.-based CRM provider with showroom, F&I and lead management solutions. The company just launched a group of several mobile applications designed to let the dealership manage the customer throughout the entire purchase process using an i-Pad. Contact Advantage… Continue Reading

Monster Deals Pending in Automotive Retail

Monster Deals Pending in Automotive Retail

August 22, 2015 — By the end of the year, it is conceivable the automotive retail industry may see at least three publicly traded vendors go private in deals ranging from $4.5 billion to $9-$10 billion. Dealertrack, CDK Global and Solera Holdings, all multi-billion dollar vendors, are either close to or are exploring sales to private…

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