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Purecars Technologies Completes Strategic Acquisition Of Automotive Fintech Saas Provider Trupayments

Jul 12, 2021•about 4 years ago

Acquiring Company

PureCars & truPayments

Acquired Company

Automotive Fintech SaaS Provider truPayments

Description

PureCars®, a leading martech and advertising intelligence provider for automotive retailers and marketers, today announced its acquisition of shopping personalization (DXP) and fintech platform, truPayments®, further solidifying its commitment to helping dealers thrive by expanding its martech and services suite to include personalized payment shopping. PureCars' best-in-class tech optimizes media buys to achieve lower ad costs per unit sold and per RO, resulting in increased profitability for dealerships. truPayments' tech converts shoppers earlier in the buying process, further reducing advertising costs for dealerships, while providing an improved buying experience for their customers. PureCars is backed by Diversis Capital Partners and Stage 1 Ventures.

Company Information

Company

PureCars & truPayments

About

PureCars is dedicated to helping dealers and the automotive industry thrive with its advanced martech, advertising insights and portfolio management platform. Only PureCars has PURETM Intelligence, giving dealers and automotive marketers a competitive edge with information that is PURE: Proven, Understandable, Relevant and Essential. PureCars' industry-leading tech leverages data and insights to make smarter media buys that result in lower ad costs per unit sold and per repair order. Since its founding in 2007, PureCars has achieved great success by combining martech with digital merchandising and market analytics tools to provide dealers and partners with best-in-class solutions that increase efficiency and profitability. PureCars's acquisition of truPayments, a leading financial tech provider that makes it easier for consumers to obtain near penny perfect payment information earlier in the shopping process, further solidifies its commitment to helping dealerships boost engagement, earn more gross per unit sold and increase ROI. PureCars is a certified digital provider for 15 OEMs in the U.S. and 1 in Canada, compliant with 40+ brands and serves 65 of the top 100 dealer groups in North America. Learn more at www.purecars.com

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed