Earlier this week, DealerSocket, an automotive software solutions provider, announced its plans to purchase dealer management software (DMS), Auto/Mate. For decades, Auto/Mate has been a pioneer in DMS, and, according to Automotive News, is estimated to be the fourth leading solution on the market today.
Combining the two companies will blend a comprehensive DMS with a full suite of dealership solutions. The result, DealerSocket says, will be a unique, all-in-one platform for automotive dealers. DealerSocket currently offers a range of products, including customer relationship management (CRM) software, digital retail and websites, inventory management, and independent-focused DMS software solutions.
It’s anticipated that the merger will create a combined company that supports over 9,000 dealerships (300,000 individual users).
“Bringing together DealerSocket and Auto/Mate will be a game changer for our customers, our companies, and the entire industry. For a long time, DealerSocket has believed that combining our companies could offer dealers a much needed new choice for a full platform solution,” said Sejal Pietrzak, CEO of DealerSocket. “Both Auto/Mate’s and DealerSocket’s industry-leading software and award-winning customer service help DealerSocket to Acquire Leading DMS Provider Auto/Mate Bringing together these two companies will offer dealers an innovative, all-in-one software platform with industry-leading customer service to improve profitability and processes for dealerships, and as a combined company, there are tremendous opportunities for innovation, while maintaining our strong focus on customer service.”
“Auto/Mate and DealerSocket have been partners for many years, and we have many joint customers. We could not have found a better home for our technology, employees, and customers than DealerSocket,” said Auto/Mate CEO Mike Esposito. “With the scale this deal brings and the investment we will receive being part of DealerSocket, we will be able to offer our customers and the broader market a seamless platform that will further advance what is possible for dealerships.”
So far, the terms of the agreement have yet to be disclosed. DealerSocket and Auto/Mate will continue to operate separately until the deal is complete.