Two immediate acquisitions signal Keyloop's strong intent to change the game in automotive retail
Keyloop Acquires RAPID RTC and enquiryMAX
LONDON -- Keyloop, a leading global supplier of technology solutions to the automotive industry, has today announced its acquisition of both RAPID RTC and enquiryMAX, bringing their first-rate lead aggregation, lead response, enquiry management and showroom applications into the Keyloop product portfolio.
These are amongst the first actions Keyloop (formerly known as the International division of CDK Global) is taking since being acquired yesterday by Francisco Partners. These acquisitions represent Keyloop's serious commitment to developing an open platform that connects the automotive retail industry and transforms the car buying and ownership experience for the better, in partnership with both dealers and OEMs.
The addition of these products will enable Keyloop to enhance its Sales and Marketing offering and develop new solutions around lead management and attribution, by combining the data from these products with its own Dealer Management Systems (DMS).
RAPID RTC is headquartered in Winnipeg, Canada and is a provider of Digital Communication and Lead Management Solutions (LMS) to over 4200 dealer sites and partners with many leading OEMs. Glen Demetrioff, Founder and CEO of RAPID RTC, will be joining Keyloop as a member of its executive team.
RAPID RTC's LMS brings rich capabilities to automotive retailers, including the ability to aggregate sales enquiries from over 300 channels and manage the customer interaction in the showroom with digital communication tools such as live chat, social media, text and video calls.
enquiryMAX is headquartered in Leeds, UK and provides a showroom management solution to over 970 dealerships in the UK and Ireland. Some of the UK and Ireland's largest dealer groups are amongst their clients and they are also the chosen partner of several leading OEMs.
enquiryMAX's showroom solution plays a key role in the effective management of customer enquiries, from capturing the sales lead at the outset of the buying journey, to building the deal and presenting the offer and vehicle handover. enquiryMAX is currently the largest partner from Keyloop's Partner Programme.
Tom Kilroy, CEO Keyloop, comments:
"We are delighted today to welcome RAPID RTC and enquiryMAX, two leading automotive technology providers, to the Keyloop family. We are very excited to include their outstanding lead management and showroom products in our customer offering. The combination of these products, together with Keyloop's leading DMS, will enable us to develop new solutions for our customers around lead measurement and attribution.
"We are also very excited to be able to demonstrate our promise to move quickly with the backing of our new owners, Francisco Partners.
"Although Keyloop has acquired RAPID RTC and enquiryMAX, we remain committed to accelerating the development of the Keyloop Partner Programme. This will allow our dealer and OEM customers freedom of choice for their technology needs, whilst always benefitting from the added benefits of integration to the Keyloop DMS."
Glen Demetrioff, CEO, RAPID RTC comments:
"This marks another milestone for RAPID RTC and it's one I am absolutely thrilled about. Not only will it help shape the next phase of growth for RAPID RTC's lead management and communications platform, but collectively it will open the doors for what I believe will truly be a unique and transformational product offering in the automotive retail landscape.
"I'm thankful and looking forward to joining Tom and the rest of the executive team at Keyloop as we continue to scale, innovate and connect the automotive retail industry."
Francisco Partners was advised by Paul Hastings LLP, Stikeman Elliott LLP, and Kirkland & Ellis as legal counsel, and Alvarez & Marsal's Transaction Advisory Group. UBS Investment Bank acted as exclusive financial advisor to RAPID RTC and Pitblado Law as legal counsel to RAPID RTC throughout the acquisition process. RAPID RTC was a portfolio company of Sageview Capital. RSM Corporate Finance LLP acted as exclusive financial advisor to enquiryMAX.
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Keyloop's mission is to create and connect technology that advances the car buying and ownership experience in partnership with dealers and OEMs. It is a leading global provider of software solutions to the auto retail industry, serving approximately 16,000 dealer sites and most automotive manufacturers, in over 90 countries. Headquartered in the UK, Keyloop also has operations across EMEA and Asia. For more information, please visit www.Keyloop.com.
About RAPID RTC
RAPID RTC is a multinational digital communications company that specialises in automotive, serving over 4,000 retail and manufacturing clients. They focus on improving businesses' digital communications and customer engagement practices by seamlessly connecting online shoppers with salespeople in real-time, using their preferred channel. Their brand promise is to bring value to our clients by placing their customer at the core of everything we do. Through the right mix of technology and human interaction, we ensure a premium omni-channel customer experience throughout the online purchase journey.
enquiryMAX is a provider of leading automotive retail software. It works closely with individual dealerships, dealer groups and manufacturers utilising its sales lead management system to help implement a structured sales process, disciplines and display best practices. enquiryMAX's goal is to continually develop and deliver quality automotive software solutions that will make a difference to automotive retail businesses.