An acquisition that first came to light back in July came to fruition late last week.
CDK Global announced that it has received all customary regulatory approvals and has completed the acquisition of ELEAD1ONE, a leading provider of fully integrated customer relationship management software solutions for automotive dealers.
The company said the acquisition is expected to be modestly dilutive to earnings in fiscal 2019 and accretive to earnings by fiscal 2020. CDK added that it will provide additional information about the acquisition along with updated guidance when it reports fiscal year 2019 Q1 results.
“This combination of two industry leaders provides our dealer customers with a best-in-class customer acquisition and retention platform,” said Brian MacDonald, president and chief executive officer of CDK Global.
“ELEAD1ONE’s innovative CRM, service and call center solutions delivered through an integrated service platform complement the focus CDK places on delivering business-essential solutions with an outstanding experience for dealers,” MacDonald went on to say.