Cox Automotive Acquires Predominant Fixed Operations Solution Provider Xtime
To further its goal of assisting dealers to become more efficient and profitable enterprises, Cox Automotive™ on November 11, 2014, announced the acquisition of Xtime®, the predominant retention solution provider for the retail automotive industry. Fixed operations are a critical element in dealers’ success, and this acquisition expands Cox Automotive’s suite of solutions dealers need to run their businesses—from the front-end to the back-end.
“We at Cox Automotive understand dealers’ need to retain and conquest service, maintenance and repair business, making the addition of a fixed operations solution a terrific value-add to the products and services we already bring to the table,” said Keith Jezek, software division president at Cox Automotive. “With Xtime, we are now positioned to provide the modern dealership all of the tools needed to build and maintain long term relationships with their customers.”
Based in Silicon Valley, Xtime provides a powerful vehicle service and repair software solution for automotive retailers and manufacturers, which helps dealerships attract and retain profitable service and repair customers while helping manufacturers build brand loyalty. The company’s products help dealers efficiently manage their service operations through integrated service scheduling, marketing and check-in. Additionally, Xtime’s solution helps dealers fill unsold service capacity, creating significant increases in gross profit potential for the service department at an average dealership. Xtime processes more than 2.5 million service appointments each month for its 6,000 dealer customers, accounting for more than $6 billion annually in dealer service revenue.
“Becoming a part of the Cox Automotive family of companies is an incredible opportunity and one that will greatly benefit our current and future customers,” said Neal East, co-founder and president of Xtime. “The additional value that we can create for our customers by connecting the front- and back-end of dealership operations is an exciting prospect, and I look forward to working across the organization to realize that potential.”
As a part of the Cox Automotive software division, Xtime will retain its current leadership and brand while benefitting from the same successful strategy that has empowered the growth of other companies under the Cox Automotive umbrella. Cox Automotive is part of Cox Enterprises, which has invested more than $3 billion in acquisitions and start-ups of auto-related businesses in the past five years.