July 4, 2016 — Private equity firm Thoma Bravo announced Friday that it is acquiring Trader Corp. from Apax Partners for $1.57 billion. Trader Corp. is the parent of autoTRADER.ca (no affiliation with Autotrader in the U.S. or the U.K.). The deal is expected to close in the fourth quarter. Several companies — including possible… Continue Reading
June 27, 2016 — Web services firm ReachLocal announced this evening that it is being acquired by Gannett for approximately $4.60 a share in an enterprise deal totaling $156 million. ReachLocal provides website and digital marketing services to nearly 16,000 local businesses including car dealerships. Gannett, which recently failed in its bid to acquire competitor Tribune Publishing,… Continue Reading
June 17, 2016 — Those Canadian tech companies suddenly are hot. A sale of Trader Corp., the parent of autoTRADER.ca, could be announced in the next few weeks, sources close to the deal confirm to TBR. Potential buyers, including large private equity firms along with strategic buyers based in the U.S., are nearing the final… Continue Reading
June 3, 2016 — Internet Brands, owned by private equity firm KKR, acquired Auto Credit Express earlier this week. With the acquisition, Internet Brands creates an expanded presence into the subprime vehicle loan market. Auto Credit Express, founded in 1999, matches subprime customers with financing lenders and dealers. It also provides training for dealers selling to subprime… Continue Reading
May 30, 2016 — UPDATED — A swift kick in the butt from an activist investor followed by a company-wide restructuring has CDK Global’s stock price climbing while possibly signaling the technology firm could be sold within the next several months. This report analyzes the opportunities and challenges presented by the new restructuring and what it…
April 5, 2016 — Despite a relatively quiet first quarter, the hot merger and acquisition pace among automotive retail vendors the last couple of years should continue well into 2016. From January 2014 to December 2015, the industry saw 47 IPOs, acquisitions and investments totaling an estimated $37 billion in capital changing hands. (Read TBR’s recap…
March 28, 2016 — When Chip Perry took the helm at TrueCar last December, his mission was clear — create a more dealer-friendly company while regaining the trust of investors. The first part of the mission is well on its way as the company announced last night the launch of a revamped business model designed… Continue Reading
March 4, 2016 — After several weeks of uncertainty created by a tanking junk bond market, Vista Equity Partners completed its acquisition of Solera Holdings, a global firm that provides risk and asset management software for the automotive industry. Vista led an investment group comprised of Koch Equity Development and Goldman Sachs in the approximately $6.5… Continue Reading
March 3, 2016 — Cox Automotive made a series of executive changes this week as part of the continued integration resulting from last year’s $4 billion purchase of DealerTrack. The Atlanta-based firm also extended its global reach with the purchase of Dealer Solutions, a technology firm in Australia, in a move that could herald further acquisition activity in the area.… Continue Reading
February 25, 2016 — CDK Global made it official yesterday announcing it has acquired the product portfolios of NewCar IQ and Red Bumper from Pearl Technology Holdings LLC. NewCar IQ is a new vehicle inventory management system while Red Bumper helps dealers manage their used vehicle inventories. CDK will combine the two products to create a solution…
