According to a news release distributed on Tuesday, Affinitiv and AutoLoop announced that they have received all customary regulatory approvals and that the merger of the two providers of data-driven marketing automation and software solutions is complete.
Officials said the combined company will operate under the Affinitiv brand name and will be headquartered in Chicago, with more than 800 employees and revenues of approximately $200 million, supporting more than 6,500 dealerships and strategic relationships with 15 OEM partners.
New York-based private equity firm CIP Capital will continue as majority owners of the business, according to the news release.
Over the next several months, officials explained, AutoLoop’s suite of software products, including equity mining, scheduling, service lane technology and appraisal tools, will be strategically integrated with Affinitiv’s digital and direct marketing products, offering dealers a comprehensive, end-to-end solution designed to maximize dealership revenue and customer retention throughout the entire ownership lifecycle.
Affinitiv chief executive officer Scot Eisenfelder will continue in his current role as CEO, while Steve Anderson, AutoLoop’s CEO, will assume the position of executive chairman of the combined entity.
“I’m excited about this merger, as it allows us to rapidly accelerate the adoption of our best-in-class technology and products across the automotive market,” Anderson said. “In addition, having a considerably larger organization operating at scale will provide our OEM and dealer customers a rich array of solutions with outstanding support.”
Eisenfelder added, “Dealerships need to evolve in order to thrive. The combined company will join two leading industry platforms to provide the best data-driven marketing and software solution that will guide dealers through each touchpoint in the customer journey, creating an optimal customer experience while growing dealership revenue.”
The newly combined company will create one of the largest providers of data-driven marketing and software solutions exclusively focused on the automotive customer lifecycle. Key highlights of the merged operation include:
— Modern and scalable SaaS offering, purpose-built for automotive OEMs and dealerships
— Fully integrated product portfolio across retention marketing, equity mining, online scheduling, service lane software, digital marketing and appraisal solutions
— Proprietary analytics platform that provides sophisticated customer and marketing insights based on the combination of unique data sets from OEMs, dealerships and third parties
— Customized solutions for each dealer via a consultative field staff working closely with dealers to customize and evolve marketing plans – a method proven to deliver better ROI
— In-house digital agency that leverages deep technical, strategic and creative expertise to develop and deploy data-driven, multi-channel campaigns that are innovative, effective and OEM-compliant, ultimately creating a best-in-class customer experience and driving strong brand loyalty
AutoLoop customers will gain immediate access to enhanced digital and social campaigns through Affinitiv’s CK Advertising and Affinitiv Digital offerings. Affinitiv’s customers will benefit from AutoLoop’s integrated product offering across marketing, scheduling, equity mining and service lane software.
For more information, visit www.Affinitiv.com or call (847) 955-9740.