On March 1, 2021, Francisco Partners completed its acquisition of CDK International (CDKI), a former division of CDK Global. CDKI will become Keyloop, an entirely independent company. Keyloop will help automotive retailers across the globe seize the opportunities generated by a rapidly changing market and evolving consumer needs.
As an independent business, Keyloop can accelerate its mission to help automotive retailers across the world transform the car buying and ownership experience. Keyloop will also be able to define its own culture, mission and values to best fit its future vision and purpose.
During the time that CDKI was owned by CDK Global it was a successful division of the company, but it largely operated independently, with specific technology, sales and operations tailored to the international markets.
Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $24 billion in assets under management, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realise their full potential. Already Keyloop has acquired two further auto technology companies to their portfolio, enquiryMAX and Rapid RTC.
Auxo Software and subsidiary, Systime, have had a long relationship with CDK as the only authorised resellers in Australasia of the Autoline product.
These changes will not impact Auxo Software customers experience existing experience with the Autoline product or customer service from Systime, however, this will bring many exciting opportunities for the future of Autoline.