HOFFMAN ESTATES, Ill. -

CDK Global has acquired NewCarIQ and RedBumper from Pearl Technology Holdings.

CDK said Wednesday it will combine the solutions of NewCarIQ (which focuses on new-car stocking and management of OEM incentives for dealers) and RedBumper, which focuses on used-car inventory management.

This will give dealers a combined platform offering “a comprehensive set of tools for dealers to manage both their new and used car inventory, CDK said.

"CDK is focused on providing a seamless easy-to-use experience for all of our dealer clients," said Malcolm Thorne, chief global strategy officer at CDK Global. "Inventory management is at the heart of every dealership. Our new inventory management solution will be the first of its kind in the automotive retail industry."

CDK currently provides new- and used-car inventory management tools separately via NewCarIQ and RedBumper.

"This is exciting news for the industry and will help dealers manage their profit centers more effectively," said Bruce Thompson, chief executive officer and founder of Pearl Technology Holdings. "Effective inventory management is probably the most critical component to the success of any dealership and bringing new and used together in one integrated application makes perfect sense for today's dealer."