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Xcite Automotive Acquires Buffalo-Based Carsbytext.Com Software Solution

Jun 22, 2022about 3 years ago

Acquiring Company

Xcite Automotive

Acquired Company

CarsByText.com Software Solution

ChicagoAdvertising

Description

Xcite Automotive is pleased to announce that it has acquired Buffalo-based CarsByText.com, an automation platform for dealership operations and marketing that leverages the power of simple experiences using text messaging, digital, and video to drive engagement and insights for employees, consumers, and prospects.

Company Information

Company

Xcite Automotive

Location

Chicago, Illinois, United States

About

Double4 AI is a company specializing in advanced AI capabilities, with a focus on developing innovative solutions designed to enhance dealer operations and customer experiences in the automotive retail sector.

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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