Automotive

all about automotive news

Reynolds and Reynolds acquires DealerCorp Solutions

Dealership management system giant Reynolds and Reynolds has acquired DealerCorp Solutions, a Canadian software company and partner focused on providing digital retailing tools to dealerships.

Neither side disclosed financial terms.

The acquisition, which was finalized Friday, builds on a relationship between the companies dating to 2021 and will help Reynolds grow its presence in Canada. It also represents another step toward building a fully digital process for auto retailers, Reynolds said in its Monday announcement.

“Both sides agreed that joining forces was the next logical step to help our customers succeed,” Scott Santana, Reynolds’ executive vice president of product management, said in a statement. “Reynolds is committed to investing in and growing the Canadian market, as well as delivering a start-to-finish digital retailing process for automotive retailers.”

DealerCorp Solutions will retain its name. Reynolds said it aims to utilize the existing staff and grow the business both as a standalone solution and as part of the Reynolds Canada DMS.

Acquiring DealerCorp gives Reynolds full access to the company’s DeskIt software, a cloud-based digital retailing application with elements of digital retailing, finance and insurance, inventory products and services, and desking. DeskIt will continue to be offered strictly in Canada.

“Desking” a car deal refers to the part of the process in which retailers offer customers selling prices, financing terms and monthly payment options. The DeskIt product lets retailers present sales and F&I options on kiosks, tablets, personal computers or other digital screens. It also uses the same calculation engine and algorithms online and in-store, Reynolds said, helping dealers to be more consistent with prices if customers explore options online first.

“We’re excited to join the Reynolds family officially and continue reaching a whole new host of dealerships,” said DealerCorp CEO Gordon Leach. As part of the acquisition, Leach became president of DealerCorp Solutions and will be a Reynolds vice president.

Reynolds began its partnership with DealerCorp as a licensed reseller of DeskIt.

Reynolds said it worked through its relationship with DealerCorp to improve the product, which has been integrated with its Gubagoo chat function and also helps the DMS link with more partners and lenders.

Reynolds gains other DealerCorp products in the acquisition such as StockIt, a software tool that scans inventory invoices and automatically uploads them to DeskIt.

Leave a Reply

Your email address will not be published. Required fields are marked *