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CDK Global International has marked its rebrand as Keyloop with the acquisition of both Rapid RTC and enquiryMAX following its takeover by Francisco Partners (FP).
Car dealer management system (DMS) giant CDK Global International became Keyloop today (March 2) as investment firm FP officially completed its acquisition of the business â formerly a division of CDK Global (NASDAQ CDK) â for $1.45 billion (£1.04bn).
The acquisition by FP, which specializes in technology businesses, also heralded the acquisition of automotive retail lead management specialists enquiryMAX and Rapid RTC.
FP said in a statement that the moves demonstrates its conviction to ensure Keyloop is uniquely positioned to help those involved in the automotive sector, both dealers and OEMs, respond to major changes over the coming decade as they transform the automotive retail experience.
Francisco Partners : Completes Acquisition of International Business of CDK Global
03/01/2021 | 09:21am EDT
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Francisco Partners (FP), a leading global investment firm that specializes in partnering with technology businesses, today announced the completion of the acquisition of CDK Global International, a former division of CDK Global (NASDAQ: CDK) and a leading provider of automotive retail software in EMEA and Asia. CDK Global International has now been established as an independent business named Keyloop.
Petri Oksanen, Partner at Francisco Partners and Chairman of Keyloop, comments:
“The decision to invest in Keyloop, with its track record of technological innovation and impressive global footprint, was a natural one for us and we look forward to developing the business in the months and years ahead and to accelerating the transformation of this exciting industry. We are committed to ensuring Keyloop is able to move swiftly and de
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