December 11, 2017 — This afternoon, Cox Automotive and several of its subsidiaries filed a $200 million lawsuit against CDK Global alleging ongoing antitrust and unlawful competition. The suit is the latest in a series of legal actions taken against CDK and Reynolds and Reynolds since February this year by competitors and dealers complaining about… Continue Reading
November 20, 2017 — Despite a mixed earnings report at the end of October, along with a flurry of antitrust lawsuits and two separate Federal Trade Commission reviews in recent months, CDK Global’s stock price is up nearly $5 trading at more than $66 a share since Wednesday morning last week. Fueling the jump in…
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
November 7, 2017 — Score this as a big win for Reynolds and Reynolds and CDK Global in the antitrust lawsuit filed against them by Authenticom. Late yesterday, the United States Court of Appeals for the Seventh Circuit out of Chicago vacated the preliminary injunction the lower district court in Wisconsin had awarded Authenticom in…
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
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
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
October 21, 2017 – On Friday, Scott Painter’s newest venture, an online used car leasing app called Fair, announced it has secured offers for nearly $1 billion in combined capital from two separate groups of investors. The $1 billion is in addition to a soon to-be-completed round of financing from a group that includes BMW i…
October 20, 2017 — Teterboro Chrysler Dodge Jeep Ram filed a class action lawsuit yesterday against Reynolds and Reynolds and CDK Global alleging various antitrust violations. The case was filed in United States District Court in the New Jersey District. Teterboro, who is a Reynolds and Reynolds client, alleges the two companies during the period… Continue Reading
October 18, 2017 — Assurant Inc. announced this morning it is acquiring The Warranty Group from TPG Capital in an enterprise deal valued at $2.5 billion. Assurant’s (NYSE: AIZ) share price jumped more than $6 to $101 on the news. With a $1.9 billion equity valuation for The Warranty Group — $2.5 billion with its… Continue Reading