LAKE SUCCESS, N.Y. — Dealertrack has acquired the assets of Customer Focused Marketing (CFM) Inc., a provider of customer relationship management and marketing services.
Founded in 1997, Irving, Texas-based CFM provides consumer marketing and management services to automotive dealers across the United States. It offers a number of services and technology tools designed to help dealerships better manage every aspect of the customer relationship, including prospect, sales, service and database marketing and communications.
“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,” said Raj Sundaram, executive vice president and group president of Dealertrack’s Dealer Solutions business unit.
“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.”
Dealertrack believes this acquisition will position Dealertrack’s subscription software business 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, company officials said.
This transaction is expected to close in the fourth quarter of this year, subject to customary closing conditions. Details of the financial impact of the transaction are expected to be reported as part of the Dealertrack’s third-quarter earnings conference call in early November 2013.