Retail tech big Reynolds and Reynolds Co. stays on the hunt for acquisitions even after shopping for two corporations final month, and extra offers are nonetheless potential this 12 months, firm Chairman Chris Walsh mentioned. automotive information.
Walsh first mentioned automotive information in February that the corporate would search acquisitions in 2022 as a part of its broader plan to bolster its product portfolio and choices. Since then, the Dayton, Ohio-based supplier of dealership administration techniques has accomplished two acquisitions.
Reynolds in early July purchased Motility Software program, which sells supplier administration software program to powersports and different specialty shops. Then, on July 29, he finalized a deal to purchase Proton Dealership IT, a supplier of cybersecurity and knowledge expertise services and products.
However Reynolds isn’t achieved.
“Now we have loads of issues that we’re proper once in a while I feel there are alternatives inside the auto trade to diversify and get into areas that aren’t areas which might be our core competency however are nonetheless huge.” wants,” Walsh mentioned. “Proton is an ideal instance of that.”
Dealerships are demanding cybersecurity instruments proper now, which is why the corporate sought to make a transfer in that area, he mentioned.
“It is not one thing we’re pretty much as good at as [Proton is] in it, so it made sense to companion and reap the benefits of the sources and providers that they already had,” Walsh mentioned.
Reynolds can be eyeing the finance and insurance coverage area for acquisition alternatives, he mentioned.
The corporate purchased retail expertise supplier Gubagoo final 12 months, a deal Walsh described as “big”.