DealerSocket has signed a deal to purchase DMS software provider Auto/Mate, the company announced Monday afternoon.
The combined entity would blend the DMS capabilities of Auto/Mate with the vast array of services from DealerSocket — including CRM, digital retail/websites and inventory management, as well as independent dealer-focused DMS products — to provide what DealerSocket called “an all-in-one, unique platform where innovative software is combined with best-in-class service.”
In a news release, DealerSocket chief executive Sejal Pietrzak said, “Bringing together DealerSocket and Auto/Mate will be a game changer for our customers, our companies and the entire industry. For a long time, DealerSocket has believed that combining our companies could offer dealers a much-needed new choice for a full platform solution.
“Both Auto/Mate’s and DealerSocket’s industry-leading software and award-winning customer service help to improve profitability and processes for dealerships, and as a combined company, there are tremendous opportunities for innovation, while maintaining our strong focus on customer service,” Pietrzak said.
Auto/Mate CEO Mike Esposito added, “Auto/Mate and DealerSocket have been partners for many years, and we have many joint customers. We could not have found a better home for our technology, employees and customers than DealerSocket.
“With the scale this deal brings and the investment we will receive being part of DealerSocket, we will be able to offer our customers and the broader market a seamless platform that will further advance what is possible for dealerships.”
Monday’s announcement did not include a specific close date or share any financial details of the deal.
Until an official close has been announced, the two companies will operate separately.
Once the deal closes, the combined entity will have a roster of more than 9,000 dealership clients and 300,000-plus active users.
“Auto/Mate has deep and long-standing relationships with their customers as well as impressive customer win rates from the industry’s largest DMS providers. Auto/Mate’s success is indicative of the strength of its innovative technology and the commitment of its employees who deliver an excellent customer experience to dealerships,” continued Pietrzak. “I am excited to welcome Auto/Mate’s team to DealerSocket, and we look forward to investing further in our joint products and our teams as we continue to deliver for our customers.”