Cliff Banks - The Banks Report

Thoma Bravo to Acquire 2nd Automotive Technology Company

Yesterday’s announcement that PE firm Thoma Bravo is acquiring Autodata Solutions from Internet Brands could be Act Two in what may be an ambitious play in automotive. The pending transaction also portends an M&A market that is heating up after a slow first quarter that saw only 11 deals completed, down from 23 over the…

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Cars.com Sale Likely Close, Here’s a Rundown of Possible Buyers

Cars.com Sale Likely Close, Here’s a Rundown of Possible Buyers

March 10, 2019 — An announcement regarding who Cars.com’s new owner will be could be made as early as this week. The company is an attractive play for numerous players — both from a strategic and an investment perspective. Cars announced in January the board had voted at the end of September to retain J.P.…

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Flurry of M&A Deals in Auto Retail Tech Kicks Off 2019

Flurry of M&A Deals in Auto Retail Tech Kicks Off 2019

January 21, 2019 — A flurry of several mergers and acquisitions last week among auto retail vendors started 2019 off with a bang. Through the first two weeks of the year, six deals have been announced. The fast start follows a record-breaking 2018 in which 77 deals were completed. Additionally, Cars.com announced last week its board retained…

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Auto Retail’s Industry’s Next Disruptor?

Auto Retail’s Industry’s Next Disruptor?

January 13, 2019 — Two somewhat obscure press releases last week hint at what may be the next “disruption” in the auto retail industry. Disruption is an easy term to throw around, but in automotive retail, three areas are ripe for significant innovation — CRM, service and dealer management systems. The Banks Report isn’t in…

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Cliff Banks - The Banks Report

Launch of Pivet Solution Indicates Bigger Mobility Play by Cox

January 13, 2019 — As part of its transformation into becoming a leading player in automotive mobility, Cox Automotive’s Mobility Group launched its new Pivet brand Sunday at a media event in Detroit prior to today’s opening of the North American International Auto Show. Pivet aims to build a network of service and maintenance hubs…

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Cliff Banks - The Banks Report

Former Intel CEO Assumes Top Spot at CDK Global

November 7, 2018 — CDK Global announced this morning it has named Brian Krzanich as president and chief executive officer, replacing Brian MacDonald. Krzanich, 58, spent 36 years at Intel, including serving as its CEO from May 2013 to June 2018. He also was named to CDK’s board of directors. Krzanich generally received high marks… Continue Reading

CDK, Reynolds and Reynolds Fourth Attempt to Dismiss Antitrust Cases Fails

CDK, Reynolds and Reynolds Fourth Attempt to Dismiss Antitrust Cases Fails

October 23, 2018 — Reynolds and Reynolds and CDK Global and their joint venture Computer Vehicle Registration (CVR) failed in their fourth attempt to dismiss the lawsuits alleging they engaged in several antitrust activities. Late Monday, Judge Robert Dowd in Illinois’ Northern District denied the defendant’s motions to dismiss the lawsuits filed by Motor Vehicle… Continue Reading