CDK Global Inc. and Reynolds and Reynolds Co. are making a strong bet that online sales will remain a critical function for U.S. dealerships as the economy emerges from the pandemic.
The two dealership management system giants each bought a company that specializes in digital retailing software, in deals that became public within a week of each other.
On June 2, publicly traded CDK said it paid $360 million in cash for Roadster, of Palo Alto, Calif., while privately held Reynolds and Reynolds said Tuesday, June 8, that it is acquiring Gubagoo, of Boca Raton, Fla., for an undisclosed amount.