Snap-on Acquires Dealer-FX Group, Inc.
Summary
KENOSHA, Wis.--(BUSINESS WIRE)--Snap-on Incorporated (NYSE: SNA), a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks, today announced that it has acquired Dealer-FX Group, Inc. (“Dealer-FX”), based in Markham, Ontario, for approximately $200 million in cash. Dealer‑FX is a leading developer, marketer, and provider of service operations software solutions for automotive original equipment manufacturer (“OEM”) customers and their dealers. “Dealer-FX extends our strategic visibility into new technologies and platforms as they enter the vehicle parc, expands the reach of our shop management software, and enhances our expertise with respect to dealership service and repair operations. Coupled with the know-how and capabilities of RS&I, along with the financial strength of Snap-on, we believe this addition will fortify our already strong position in vehicle repair and will upwardly increment our growth expectations in this important market segment. Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks.