DealerTrack Buys up Marketing & Managing Services

DealerTrack

The lat­est acqui­si­tion For Deal­er­Track is Cus­tomer Focused Mar­ket­ing (CFM), Inc., a provider of cus­tomer rela­tion­ship man­age­ment (CRM) and mar­ket­ing ser­vices.

Find out more about CFM and what it brings to Deal­er­Track.

Deal­er­track announced an agree­ment to acquire sub­stan­tial­ly all the assets of Cus­tomer Focused Mar­ket­ing (CFM), Inc., a provider of cus­tomer rela­tion­ship man­age­ment (CRM) and mar­ket­ing ser­vices.

CFM, estab­lished in 1997 and head­quar­tered in Irv­ing, Texas, pro­vides con­sumer mar­ket­ing and man­age­ment ser­vices to auto­mo­tive deal­ers across the Unit­ed States. Its offer­ings include a num­ber of ser­vices and tech­nol­o­gy tools to help auto­mo­tive deal­er­ships bet­ter man­age every aspect of the cus­tomer rela­tion­ship, includ­ing prospect, sales, ser­vice and data­base mar­ket­ing and com­mu­ni­ca­tions. CFM has an indus­try-lead­ing mobile plat­form fea­tur­ing inno­v­a­tive capa­bil­i­ties for the iPad, iPhone and Android-based devices, in addi­tion to a desk­top, brows­er-based ver­sion of the solu­tion.

“CFM offers both mar­ket­ing ser­vices and an inno­v­a­tive CRM plat­form, each of which align with our long-term strat­e­gy to deliv­er the industry’s most com­plete and inte­grat­ed solu­tion set for auto­mo­tive deal­ers,” said Raj Sun­daram, exec­u­tive vice pres­i­dent and group pres­i­dent, Deal­er Solu­tions, Deal­er­track. “This acqui­si­tion allows us to imme­di­ate­ly bring to mar­ket their inno­v­a­tive and effec­tive mar­ket­ing ser­vices, while tak­ing the time need­ed to fur­ther devel­op and then ful­ly inte­grate their advanced CRM tool into our exist­ing broad solu­tion set to dri­ve even greater work­flow effi­cien­cy and high­er prof­itabil­i­ty for our clients.”

“We look for­ward to being part of the Deal­er­track fam­i­ly and appre­ci­ate their com­mit­ment to help­ing deal­er­ships lever­age advanced mar­ket­ing ser­vices and CRM tech­nol­o­gy to bet­ter man­age their busi­ness­es and build stronger cus­tomer rela­tion­ships,” said Ali­cia Har­ris, pres­i­dent and founder, CFM.

Deal­er­track believes, post inte­gra­tion (late 2014), this acqui­si­tion will posi­tion Dealertrack’s sub­scrip­tion soft­ware busi­ness to accel­er­ate its rev­enue growth into 2015. As a stand­alone solu­tion, the busi­ness is expect­ed to grow approx­i­mate­ly 35 per­cent annu­al­ly for the fore­see­able future.

This trans­ac­tion is expect­ed to close in the fourth quar­ter of this year, sub­ject to cus­tom­ary clos­ing con­di­tions. Details of the finan­cial impact of the trans­ac­tion are expect­ed to be report­ed as part of the Dealertrack’s third-quar­ter earn­ings con­fer­ence call in ear­ly Novem­ber 2013.

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