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Brian Pasch just broke the news - CDK is acquiring Roadster. Thoughts?
Will this replace their CDK Connected Store offering?
Will this replace their CDK Connected Store offering?
HOFFMAN ESTATES, Ill., June 02, 2021 (GLOBE NEWSWIRE) -- CDK Global, Inc. (Nasdaq: CDK), a leading retail automotive technology company, today completed the acquisition of Palo Alto, Calif.-based Roadster, Inc. (“Roadster”), a digital sales platform that modernizes the way consumers buy vehicles and the process in which dealers sell them. The integration of Roadster assets and capabilities positions CDK to bring the first fully integrated, end-to-end retail solution to the automotive market and deliver on the promise of Modern Retailing.
The solution will help franchise automotive dealers compete with—and exceed the capabilities of—digital-first used vehicle marketplaces that have expanded rapidly in the past year. It will enable dealers to sell new and used vehicles completely online, while also giving consumers the option to begin and end the vehicle-buying process anywhere they choose—online or in-store.
“Consumers have shown they are increasingly more willing to purchase big ticket items online, and this trend has quickly accelerated during the pandemic,” said Brian Krzanich, president and chief executive officer, CDK Global. “To meet their expectations, the automotive industry requires integrations of the right technology, data and infrastructure to better connect its online and in-store experiences. Roadster’s consumer-focused approach and innovative technology will significantly contribute to our Modern Retailing efforts to create a seamless omnichannel vehicle-buying process that puts dealers at the heart of the relationship.”
For more than 40 years, CDK has helped dealers and OEMs run their businesses more efficiently, drive profitability and create differentiated experiences that keep customers for life.
In recent years, CDK has strategically focused on delivering solutions that remove friction from the vehicle-buying experience. Specifically, CDK digitized critical pieces of the sales process with products such as Connected Store, Elead CRM, Digital Contracting and eSign.
Roadster will create an increased market opportunity for CDK with new OEM partnership potential and expanded offerings to all dealers. It will also leverage open integrations built on the Fortellis platform and provide a bridge to dealer back-end systems—regardless of dealer management system (DMS) or customer relationship management (CRM) provider.
“We’re proud of the work we’ve done at Roadster over the last eight years to modernize the car-buying experience and reduce the time it takes to purchase a vehicle,” said Andy Moss, founder and CEO, Roadster. “Automotive retailing is extremely complex, and the best way to create a truly frictionless, end-to-end buying experience is to fully integrate our technology with the back-end systems that power dealership sales, finance and operations, regardless of provider.”
About CDK Global, Inc.
CDK Global (NASDAQ: CDK) is a leading provider of integrated data and technology solutions to the automotive, heavy truck, recreation and heavy equipment industries. Focused on enabling end-to-end, omnichannel retail commerce through open, agnostic technology, CDK Global provides solutions to dealers and original equipment manufacturers, serving nearly 15,000 retail locations in North America. CDK solutions connect people with technology by automating and integrating all parts of the dealership and buying process, including the acquisition, sale, financing, insuring, parts supply, repair and maintenance of vehicles. Visit cdkglobal.com.
About Roadster
Roadster provides consumer-driven Commerce Solutions for today’s modern dealership. With Roadster's proprietary technology platform, dealerships can provide hassle-free car buying in-store, online or on the go. Roadster dramatically improves dealership customer satisfaction scores, while significantly reducing sales costs. From inventory merchandising, to financing/leasing, incentives, trade-ins, service plans and accessories-- Roadster delivers near penny perfect deals in a beautifully designed interface that customers and employees will love. Roadster is based in Palo Alto, CA and was founded in late 2013. For more information, please visit Roadster.com.
Automotive Tech Leader CDK Global Acquires Digital Retail Platform Roadster
Digital Sales Platform Integration to Equip Dealers with Amazon-like Experience for New and Used Vehicles...www.globenewswire.com
