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Cox Automotive Acquires Corcoran'S Mobile Services

Aug 09, 2023•over 2 years ago

Acquiring Company

Automotive

Acquired Company

Mobile Services

Commerce And ShoppingTransportationCommunity And Lifestyle

Description

Cox Automotive today announced the acquisition of leading onsite fleet maintenance provider Corcoran's Mobile Services (CMS). The acquisition further expands Cox Automotive's nationwide fleet maintenance coverage, underscoring its continued commitment to safely servicing trucks and trailers.

Company Information

Company

Automotive

About

Cox Automotive Inc. makes buying, selling, owning and using vehicles easier for everyone. The global company's more than 27,000 team members and family of brands, including Autotrader®, Dealer.com®, Dealertrack®, Dickinson Fleet Services®, Kelley Blue Book®, Manheim®, NextGear Capital®, VinSolutions®, vAuto ® and Xtime ®, are passionate about helping millions of car shoppers, 40,000 auto dealer clients across five continents and many others throughout the automotive industry thrive for generations to come. Cox Automotive is a subsidiary of Cox Enterprises Inc., a privately-owned, Atlanta-based company with annual revenues of nearly $20 billion. www.coxautoinc.com SOURCE Cox Automotive Mobility

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