LAKE SUCCESS, N.Y. -

Dealertrack Technologies announced Tuesday afternoon that it will acquire Customer Focused Marketing, a customer relationship management and marketing services provider.

Dealertrack entered an agreement to purchase “substantially all the assets” of the company in a deal expected to close in the fourth quarter of this year.

Sharing a bit of CFM’s background, the company noted that the Irving, Texas-based company opened in 1997 and offers consumer marketing and management services to car dealers. Among its products are various “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.”

Raj Sundaram, executive vice president and group president of dealer solutions at Dealertrack, said:  “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.

“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,” he added.

CFM president and founder Alicia Harris said: “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.”

Once integration has been completed (in late 2014, this deal will help the subscription software segment of Dealertrack “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,” the company noted.

 

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