Dealertrack Completes Acquisitions of CFM, VINtek
Dealertrack has completed its acquisitions of CRM-provider Customer Focused Marketing Inc. and VINtek. The agreements were announced in August and September, respectively.
LAKE SUCCESS, N.Y. — Dealertrack has completed its acquisitions of customer relationship management (CRM) and marketing services provider Customer Focused Marketing Inc. (CFM) and VINtek, a provider of automotive collateral management, electronic lien and title (ELT) and consumer automotive finance processing services.
Irving, Texas-based CFM offers a number of services and technology tools to help automotive dealerships better manage every aspect of the customer relationship, including prospecting, sales, service and database marketing and communications. The agreement to acquire CFM was announced on Aug. 27.
VINtek, based in Philadelphia, delivers comprehensive ELT and collateral management services to more than 3,000 banks, automotive finance companies and credit unions in the United States. The company offers a number services and solutions, including electronic vehicle title, tag and tax processing services, and eSignature/eContracting solutions supporting the online closing of automotive loans. The agreement to acquire VINtek was announced on Sept. 23.
Details of the financial impact of these transactions are expected to be discussed as part of Dealertrack’s third-quarter earnings conference call in early November.
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