Combination creates a leading provider of marketing technology and software solutions exclusively serving automotive manufacturers and dealerships in the U.S.
CHICAGO, IL, UNITED STATES, July 18, 2019 /EINPresswire.com/ — Affinitiv, Inc. (“Affinitiv”) and Loop LLC (“AutoLoop”), leading providers of data-driven marketing automation and software solutions to the automotive market, today announced that they have signed a definitive agreement to merge the two companies. The transaction is subject to approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”).
The highly strategic merger will combine two industry-leading platforms to create the largest provider of data-driven marketing and software solutions exclusively focused on the automotive customer lifecycle. Key highlights of the combined company 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
– Long-term and highly strategic relationships with over 10 OEM partners and over 6,500 dealerships
The merger will result in a combined company with revenues of approximately $200 million and over 800 employees. The combined company will operate under the Affinitiv brand name, but will continue to leverage the AutoLoop brand across its product portfolio. NY-based private equity firm CIP Capital will continue as majority owners of the combined business going forward.
“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.
AutoLoop CEO Steve Anderson continued, “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. 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.”
The combined company will continue to leverage its scale, resources and unique set of marketing, software and analytics offerings to drive innovation while providing clients with world-class levels of customer support for all Affinitiv and AutoLoop solutions.
Affinitiv is a leading marketing technology company serving automotive manufacturers (OEMs), dealership groups, and individual dealerships. Through a technology-driven and consultative approach, Affinitiv enables dealerships to produce, manage, measure and optimize omni-channel communications to drive brand loyalty and increase revenue. Affinitiv’s Connectiv1 Platform is designed to provide a 360° view of customer, vehicle, dealership and marketing campaign effectiveness all in one place. Affinitiv’s digital and analytics capabilities support a consistent customer experience through the entire ownership lifecycle. Affinitiv was formed in 2016 and is headquartered in Chicago, IL.
Since 2005, AutoLoop has been helping automotive dealerships grow their businesses. It all began with the AutoLoop Sales and Service Suite, a set of seamlessly interconnected Sales, Service, and Engagement tools designed to give dealerships industry-leading features, intelligent analytics, and streamlined performance. Together, these elements enable dealers to boost sales, optimize service, market with precision, and – most importantly – drive revenue. AutoLoop products are built by dealers for dealers, and are constantly evolving to help over 2,100 franchise dealerships elevate their automotive businesses every day. An Inc. 500 company with nearly 70 million names in its database and over 2 billion individual communications initiated, AutoLoop is passionate about being America's best customer retention partner for progressive dealerships. AutoLoop is headquartered in Clearwater, FL.
Source: EIN Presswire