Francisco Partners is buying CDK Global Inc.’s (Nasdaq: CDK) international business segment for $1.45 billion. The latter offers automotive software services in EMEA and Asia.
“The automotive retail experience is undergoing dramatic change. With its leading market position in EMEA and Asia, we believe CDKI is uniquely placed to support this transformation in these regions, and that by becoming a standalone company it will better be able to execute on this exciting opportunity,” says Petri Oksanen, partner at Francisco Partners.
Portico Capital, RL Frey Inc., Paul Hastings LLP and Kirkland & Ellis are advising Francisco Partners.