Cox Automotive™ Acquires Predominant Fixed Operations Solution Provider
Cox Automotive acquires Xtime®, a software company that fuels fixed operations management for more than 6,000 dealerships worldwide
ATLANTA, Nov. 11, 2014 /PRNewswire/ -- To further its goal of assisting dealers to become more efficient and profitable enterprises, Cox Automotive™ today announced the acquisition of Xtime®, the predominant retention solution provider for the retail automotive industry. Fixed operations are a critical element in dealers' success, and this acquisition expands Cox Automotive's suite of solutions dealers need to run their businesses -- from the front-end to the back-end.
"We at Cox Automotive understand dealers' need to retain and conquest service, maintenance and repair business, making the addition of a fixed operations solution a terrific value-add to the products and services we already bring to the table," said Keith Jezek, software division president at Cox Automotive. "With Xtime, we are now positioned to provide the modern dealership all of the tools needed to build and maintain long term relationships with their customers."
Based in Silicon Valley, Xtime provides a powerful vehicle service and repair software solution for automotive retailers and manufacturers, which helps dealerships attract and retain profitable service and repair customers while helping manufacturers build brand loyalty. The company's products help dealers efficiently manage their service operations through integrated service scheduling, marketing and check-in. Additionally, Xtime's solution helps dealers fill unsold service capacity, creating significant increases in gross profit potential for the service department at an average dealership. Xtime processes more than 2.5 million service appointments each month for its 6,000 dealer customers, accounting for more than $6 billion annually in dealer service revenue.
"Becoming a part of the Cox Automotive family of companies is an incredible opportunity and one that will greatly benefit our current and future customers," said Neal East, co-founder and president of Xtime. "The additional value that we can create for our customers by connecting the front- and back-end of dealership operations is an exciting prospect, and I look forward to working across the organization to realize that potential."
As a part of the Cox Automotive software division, Xtime will retain its current leadership and brand while benefitting from the same successful strategy that has empowered the growth of other companies under the Cox Automotive umbrella. Cox Automotive is part of Cox Enterprises, which has invested more than $3 billion in acquisitions and start-ups of auto-related businesses in the past five years.
About Cox Automotive
Cox Automotive is a leading provider of vehicle remarketing services and digital marketing and software solutions for automotive dealers and consumers. Cox Automotive, a subsidiary of Atlanta-based Cox Enterprises, includes Manheim, AutoTrader.com, Kelley Blue Book, vAuto, NextGear Capital, and a host of global businesses and brands serving customers such as auto dealers, manufacturers and financial institutions. Headquartered in Atlanta, Cox Automotive employs nearly 24,000 employees in over 150 locations worldwide. The company partners with more than 40,000 dealers, as well as most major automobile manufacturers, and touches over 67 percent of all car buyers in the U.S. with the most recognized brands in the industry. Cox Automotive unites more than 20 brands in this space, providing an end-to-end solution to transform the way people buy and sell cars every day.
Xtime is a leading retention solution for the retail automotive industry. The Xtime Retention System delivers a premium customer experience for vehicle owners and increases retention for OEMs and their dealerships. It features Marketing 7 to increase service demand, Scheduling 7 to capture and book that demand and Check-In 7 to increase the value of that demand.
Xtime is a provider for 20 major global automotive manufacturers in the United States, Canada and Australia, as well as leading dealership groups, and serves more than 6,000 dealerships. Xtime is based in Silicon Valley and has offices in Australia, Canada, Germany and United Kingdom. For more information, please visit http://www.xtime.com. Connect with Xtime on Facebook, Twitter and LinkedIn.
For further information: Julie Shipp, 404-568-7914 (o), 404-558-7837 (m), firstname.lastname@example.org; Lou Laste, 404-568-7791 (o), 404-693-2771 (m), email@example.com
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