CHICAGO and CLEARWATER, Fla. — Affinitiv Inc. and AutoLoop (div. Loop LLC) have signed a definitive agreement to merge, the companies announced. The transaction is subject to approval under federal antitrust regulations.
Executives said the “highly strategic” merger will create the largest provider of data-driven marketing and software solutions exclusively focused on the automotive customer lifecycle. Together, the companies’ product portfolio includes solutions focused on retention marketing, equity mining, online scheduling, service lane software, digital marketing, and appraisal solutions, as well as a proprietary analytics platform that provides insights based on the combination of datasets from OEMs, dealerships, and third parties.
“The combined company is ideally suited to help guide OEMs and dealerships through the major disruptors that are facing the automobile industry, putting tremendous pressure on the profitability of dealers including lengthening servicing intervals, digital presence, and the ever increasing complexity in marketing with the proliferation of ‘big data’ and new mobile and digital channels,” said Scot Eisenfelder, CEO of Affinitiv.
The merger will result in a combined company with revenues of approximately $200 million and more than 800 employees serving 10 OEM partners and more than 6,500 dealerships. It is expected to operate under the Affinitiv name while continuing to leverage the AutoLoop brand. New York-based private equity firm CIP Capital will continue as majority owners, all according to the announcement.
“The pace of technological evolution has accelerated tremendously over the past decade, and we’re committed to staying at the forefront of innovation as we continue to invest aggressively in new software and analytics capabilities for our clients,” said AutoLoop CEO Steve Anderson. “Partnering with Affinitiv gives us an extraordinary opportunity to enhance our existing products, expand our offerings, and better serve our customer base as they navigate the industry challenges ahead.”
Originally posted on Auto Dealer Today