Experian Automotive has acquired String Automotive and its online marketing intelligence platform, the company’s president revealed in a May 24 blog post.
String’s Dealer Positing System (DPS), which combines multiple sources of data from inside and outside the dealership, will now be matched with Experian’s own data-driven insights. The combination, according Experian’s John Gray, provides dealers with a platform that combines dealership website analytics and inventory information, consumer demographic, and purchasing behavior data.
“Today is a great day for Experian and our automotive clients,” Grey wrote in his blog. “We’ve been working with String Automotive for several years, and have now taken the next step in our relationship, as String Automotive has become part of our Experian family.”
Grey said the String-powered platform will allow users to take the pulse of their local market. It then “guides them to make the most profitable, proactive decisions for every store and unique situation.”
“This powerful analytics solution simplifies choices like how to spend marketing dollars and where to target conquesting efforts by letting market and dealership data drive decisions,” Grey wrote in his blog post. “What’s the bottom line? The Dealer Positioning System increases profitability across the dealership.”
According to officials, the transaction closed earlier this month, although they did not disclose terms of the deal.
About: String Automotive exists to deliver transparency, insight and innovation to every auto dealer. Using its online marketing experience and analytical chops, it refocuses the business around the latest product, the Dealer Positioning System®, an intelligence platform created solely to empower dealers to sell more cars and operate more efficiently by making decisions based on data.