Dealertrack to Acquire CRM Provider Customer Focused Marketing, Inc.
28 8월 2013 - 5:30AM
Business Wire
Dealertrack (Nasdaq:TRAK) today 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.
About Dealertrack Technologies
(www.dealertrack.com)
Dealertrack Technologies’ intuitive and high-value web-based
software solutions and services enhance efficiency and
profitability for all major segments of the automotive retail
industry, including dealers, lenders, OEMs, third-party retailers,
agents and aftermarket providers. In addition to the industry’s
largest online credit application network, connecting more than
20,000 dealers with more than 1,300 lenders, Dealertrack
Technologies delivers the industry’s most comprehensive solution
set for automotive retailers, including Dealer Management System
(DMS), Inventory, Sales and F&I, Interactive and Registration
and Titling solutions.
Safe Harbor for Forward-Looking and
Cautionary Statements
Statements in this press release regarding the benefits of the
future acquisition of CFM, the benefits of its CRM platform, as
well as all other statements in this release other than the
recitation of historical facts are forward-looking statements (as
defined in the Private Securities Litigation Reform Act of 1995).
These statements involve a number of risks, uncertainties and other
factors that could cause actual results, performance or
achievements of Dealertrack Technologies to be materially different
from any future results, performance or achievements expressed or
implied by these forward-looking statements.
Factors that might cause such a difference include the
completion of the acquisition of CFM, CFM meeting its financial
goals, the successful integration for CFM’s CRM software into
Dealertrack’s software solutions, and other risks listed in our
reports filed with the Securities and Exchange Commission (SEC),
including our Annual Report on Form 10-K for the year ending
December 31, 2012. These filings can be found on Dealertrack
Technologies’ website at www.dealertrack.com and the SEC's website
at www.sec.gov. Forward-looking statements included herein speak
only as of the date hereof and Dealertrack Technologies disclaims
any obligation to revise or update such statements to reflect
events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events or circumstances.
TRAK-G ###
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