September 14, 2015 — Last year, more than $30 billion in equity changed hands among automotive retail vendors in what was a record year for the industry. Already in 2015, there have been 19 acquisitions for an estimated combined $8 billion. With two more monster deals pending, the number could easily exceed $20 billion. Last… Continue Reading
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…
August 20, 2015 — Dealertrack informed its employees this morning (and announced in a press release) that it is selling its suite of Inventory+ solutions (formerly AAX) to Dealersocket for $55 million in cash. The announcement likely means Cox Automotive’s pending $4 billion acquisition of Dealertrack is nearing commpletion. In-depth analysis of vendor activity in… Continue Reading
August 3, 2015 — Two weeks ago, Spireon, backed by private equity firm Bertram Capital, announced the acquisition of privately-held Inilex, a leading GPS recovery solutions provider for an undisclosed sum. The Spireon name probably isn’t familiar to many in the automotive retail space, but it will be soon as the deal could be an intriguing play with significant…
August 3, 2015 — HGGC, co-founded by former San Francisco 49ers and NFL Hall of Fame quarterback Steve Young, has a portfolio of 19 investments, including two in the automotive retail space. Following up on its investment in Auto Alert in April 2014, HGGC announced its second play with an automotive retail vendor last week… Continue Reading
July 7, 2015 — An investor in Dealertrack filed a lawsuit yesterday afternoon seeking to stop Cox Enterprise’s $4 billion acquisition of the Long Island, NY-based technology firm contending the deal prohibits investors from participating in Dealertrack’s projected growth while providing executives with golden parachutes. The suit claims the agreement is the “culmination of a…
July 6, 2015 — Two intriguing investments in recent weeks show that CDK Global and Cox Automotive are looking hard at the growing telematics and connected vehicle space — a sector that many analysts believe will explode in the next year or so. First, Cox Automotive in early June participated in a $6.5 million Series… Continue Reading
July 2, 2015 — In this report The Banks Report analyzes the financials of Cox’s pending acquisition of Dealertrack; why the deal makes sense; and its effect on the industry and other companies. Background Cox Automotive’s pending acquisition of Dealertrack is big on several levels. Not only is the $4 billion deal the biggest acquisition financially… Continue Reading
June 29, 2015 — Over the next several months, we believe the automotive industry will see a more aggressive Cars.com at play in the acquisitions market as its parent company, the newly minted Tegna begins trading on the New York Stock Exchange under the symbol TGNA this morning. Gannett Co., the giant newspaper publishing and…
June 15, 2015 — The big announcement finally happened — Cox Automotive is buying DealerTrack for $4 billion — approximately $63 a share — up from the $39 a share DealerTrack was trading at on Friday. We’ll have our analysis in the next day or so. But this is the biggest deal in the vendor… Continue Reading
