CitNOW Group continues growth with acquisition of Real Time Communications (RTC)

CitNOW Group is continuing to expand its technology portfolio with the acquisition of Real Time Communications (RTC), an industry-leading supplier of integrated technologies that streamline sales and aftersales operations for automotive retailers.

• Real Time Communications helps dealers streamline sales and aftersales operations
• Shared knowledge and technology will improve retailer efficiency, boost profitability and create a seamless customer experience
• Expansion supports CitNOW Group’s ambition to transform the way the automotive world communicates

This latest acquisition forms part of CitNOW Group’s strategy to expand the reach of its products throughout the customer journey. RTC helps retailers simplify workflows in both sales and aftersales, by enabling staff to manage the entire customer journey in one place, using simple, user-friendly platforms and actionable insight reporting. The existing RTC team will continue to support and develop the products as part of CitNOW Group.

Working with RTC, the CitNOW Group aims to further expand its product portfolio to help retailers improve profitability and deliver a seamless customer experience. In particular, the collaboration is expected to result in significant advances in the effectiveness of aftersales-focused services, resulting in increased productivity and efficiency savings in the workshop, as well as boosting customer satisfaction and retention.

Geoffrey Page-Morris, CEO of CitNOW Group, said: “With more than 20 years’ experience equipping retailers with the tools to help them keep pace as the automotive industry rapidly evolves, RTC is a natural fit as part of the Group. The complimentary technology developed by our colleagues at RTC will play a big part in helping us to achieve our mission of improving efficiency for retailers and supporting them to maximise their revenue potential. We welcome RTC into the CitNOW Group family as we move one step closer to our ultimate ambition of making life easier for dealerships and transforming the way the automotive world communicates”

Tim Baumfield, CEO of Real Time Communications added: “This is an exciting opportunity to help us further strengthen and grow existing RTC products through accelerated development and deeper integrations. We are excited to be joining CitNOW Group and becoming part of its expanding portfolio as we work together to improve productivity and efficiency in aftersales.”

The acquisition of RTC follows shortly after CitNOW Group secured a significant new investment from leading mid-market private equity investor Livingbridge, alongside additional funding from current backer Tenzing. CitNOW Group continues to accelerate its growth strategy with recent mergers and acquisitions including Web1on1 in the Netherlands, Dealerweb, Tootle and Reef Business Systems in the UK, and Quik in the US.

CitNOW Group secures significant new private equity investment

CitNOW Group has secured significant new investment from leading mid-market private equity investor Livingbridge, alongside additional funding from current backer Tenzing. The move will allow CitNOW Group to accelerate its growth strategy via additional mergers and acquisitions in the UK and overseas, and through further expansion of its product offering in key European markets.

• Funds from private equity firm Livingbridge and current backer Tenzing will enable fresh acquisitions and European expansion
• CitNOW Group is seeking to transform the customer journey in automotive
• CitNOW Group has highest penetration of any software provider in the UK motor retail sector

CitNOW Group recently acquired Web1on1, Europe’s leading multi-channel messaging software platform and integrated Dealerweb, Tootle and Reef Business Systems in the UK, as well as Quik. in the USA.

Geoffrey Page-Morris, CEO of CitNOW Group, said: “We are thrilled to have found in Livingbridge a partner that shares our vision for the Group. The firm’s extensive experience in the software sector and its strong track record in implementing sophisticated mergers and acquisitions programmes make it ideally placed to accelerate our growth strategy.”

Simon Peet at Livingbridge said: “CitNOW Group is a fantastic business which has built a reputation for innovation and excellence in a large and rapidly evolving sector. We look forward to working with Geoffrey and his team to further scale the business organically, as well as continuing to expand the range of solutions the Group offers to its customers through strategic mergers and acquisitions.”

Christian Hamilton, Co-Founder and Managing Partner of Tenzing, said: “We’re super proud to have spent the last four years working with CitNOW Group, supporting its growth by completing five strategic acquisitions, scaling sales, and expanding into new markets. We have high conviction about the additional value we can create and are excited to partner with Livingbridge to deploy the combined power of our Growth Teams.”

Since its inception in 2008, CitNOW Group has rapidly established itself as a global market leader, with over 13 million sales opportunities created, 60 million videos processed and over 10,000 dealer installations across 64 countries to date. It currently has the highest penetration of any software provider in the UK motor retail sector, with approximately 75% of franchised dealerships using at least one of its products.