Uber and Fair Enter Into Strategic Partnership

Uber and Fair Enter Into Strategic Partnership

January 30, 2018 — Fair announced this morning a strategic partnership with Uber along with the acquisition of the lease portfolio of the ride-hailing firm’s XChange Leasing program. As part of the agreement, Fair will become Uber’s exclusive U.S.leasing partner for drivers leasing vehicles for a month or longer. Financial terms of the acquisition were… Continue Reading

Potential Buyers Identified as CDK Sales Process Enters Second Round

Potential Buyers Identified as CDK Sales Process Enters Second Round

January 15, 2018 — For the second time in the last week, CDK Global shares have spiked to record highs due to rumors of a potential sale. Fueling the most recent spike was chatter last week (later confirmed to TBR by sources familiar with the process) that at least three groups are submitting second round…

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Cliff Banks - The Banks Report

CallRevu Names Serent Capital as New Investment Partner

November 16, 2017 — CallRevu, a dealership call management software firm founded by Chip King and David Boice in 2010, will announce later today that it has entered into an investment relationship with Serent Capital. As part of the investment in CallRevu, Serent is acquiring the interest held by marketing agency Team Velocity, which is… Continue Reading

Cliff Banks - The Banks Report

Primus Capital Invests in FusionZone

November 1, 2017 — Today’s announcement that private equity firm Primus Capital completed an investment in fusionZONE Automotive indicates the second tier of dealership website and digital marketing firms is gaining traction on the two giants in the space — Dealer.com and CDK Global. Terms of the deal were not disclosed but Primus generally keeps… Continue Reading

Cliff Banks - The Banks Report

CDK Acquires Reporting Firm Dashboard Dealer Enterprises

October 28, 2017 — CDK Global acquired enterprise reporting company Dashboard Dealership Enterprises (“DDE”), the company announced this week. The integration of DDE’s flagship product, Executive Eye, into the CDK platform will help CDK customers better measure their efficiency and profitability, the company says. As part of the acquisition, DDE CEO Josh Blick and COO William… Continue Reading

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Team Velocity Acquires Car-Mercial

October 25, 2017 — Team Velocity Marketing scooped up video pre-roll production company, Car-Mercial, the company announced earlier this week. Car-Mercial’s video technology will be integrated into Team Velocity’s marketing automation platform, Apollo.Terms of the deal were not disclosed. With video being the fastest growing consumer medium, Team Velocity believes Car-Mercial’s dynamic video platform will… Continue Reading

TBR 3rd Quarter 2017 Auto Retail Vendor M&A Report

TBR 3rd Quarter 2017 Auto Retail Vendor M&A Report

October 9, 2017 — IHS Markit’s acquisition of Automotive Mastermind, one of the year’s biggest U.S.-based deals, brought an active third quarter to a close last week. The other big story of the quarter — and perhaps the year — is the nearly $200 million invested in six startups specializing in online automotive transaction solutions.…

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Antitrust Lawsuit Update — Reynolds and Reynolds Hit with Third Lawsuit

September 5, 2017 — The lawsuits are piling up and more are on the way. Late last month, Superior Integrated Solutions (SIS), owner of Darwin Automotive, became the third dealership vendor to file a lawsuit against Reynolds and Reynolds since February alleging anti-competitive practices. At issue are the policies and practices Reynolds and CDK Global…

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