Reynolds and Reynolds Buys Networkcar
Reynolds, Dayton, OH, had held a 10 percent ownership in Networkcar since 2000.
Networkcar offers proprietary wireless technology for collecting and delivering real-time automotive diagnostic data and satellite-based global location services to automotive retailers, vehicle owners, fleets, car companies and other users of vehicle data. The technology is on the road in almost dozen states, including California and Ohio.
With the acquisition of Networkcar, Reynolds intends to begin a North American rollout to retailers, incorporating the technology as a fundamental part of Reynolds' integrated CRM solutions.
The Networkcar acquisition comes a week after Reynolds announced creation of a New Markets Group to use opportunities in markets closely related to its traditional retail auto dealer customer base. As part of that strategy, Reynolds acquired Boat Ventures, a privately held provider of Web-based applications and consulting to the marine industry.
Reynolds also announced a strategic partnership with Karmak, a provider of computer systems and business management systems to the heavy-duty truck industry.