Snap-On Inc. has acquired Dealer-FX Group, a Canadian developer of service management software, for $ 200 million.
The acquisition enhances the vehicle repair systems that Snap-On markets to dealers in Kenosha. Dealer-FX will fit into the company’s Repair Systems & Information Group, the company said in a press release.
Dealer-FX of Markham, Ontario specializes in service software that provides digital data so dealers can make repairs faster, more accurately. It is another service product that Snap-On can offer.
“Dealer-FX extends our strategic visibility to new technologies and platforms,” said Nick Pinchuk, Chairman and CEO of Snap-On. “It expands our shop management software and expands our know-how with regard to service and repair work for dealers.”
The acquisition “will also strengthen our already strong position in vehicle repair and increase our growth expectations in this important market segment,” said Pinchuk.
Over the past few years, Dealer-FX has invested in updates to its technology, making it a more valuable system for traders and managers, according to Pinchuk.
Updates made dealer FX more valuable. In fiscal 2020, the company had sales of $ 37 million.
Founded in 1920, Snap-On is a $ 3.6 billion company that sells products and services through its franchise, direct, sales, and internet channels.
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