ADP Announces Post-Spin Name of Its Dealer Services Business (8/19/14)
HOFFMAN ESTATES, IL, Aug 19, 2014 (Marketwired via COMTEX) -- ADP Dealer Services, Inc., a division of ADP(R) and a leading global technology solutions provider dedicated to helping dealerships and manufacturers drive measurable results, is pleased to announce that Dealer Services' new company name will be CDK Global, Inc., once the spinoff from ADP is completed. CDK Global will be listed on the NASDAQ exchange under the "CDK" symbol.
CDK Global will be one of the largest technology providers to the automotive industry, with more than 26,000 dealer sites in over 100 countries and nearly 9,000 employees worldwide.
The letters of the new name represent three of Dealer Services' historically largest businesses and most strategic brands.
The "C" stands for Cobalt Digital Marketing, a leader in the fast-growing digital marketing space. Acquiring Cobalt several years ago represented a whole new dimension of Dealer Services' business that the company wasn't fully addressing.
For the critical centerpiece of the name, Dealer Services chose "D" to represent Dealer Services and its 40 years of experience. This is the foundation of the business, which offers integrated management and technology solutions primarily to automotive dealers and manufacturers, and also to heavy truck, motorcycle, RV, marine and heavy equipment clients.
The "K" represents Kerridge Computer Company, which was a UK-based company acquired in 2005. The Kerridge acquisition was a strategic decision to greatly expand Dealer Services' geographic footprint and demonstrates its commitment to becoming a global provider.
Steve Anenen, who will serve as CDK Global's CEO, noted, "We have decades of success as ADP Dealer Services, and we wanted that rich legacy to live on. Plus, the additions of Cobalt and Kerridge to our business solidified our position as a global market leader, so we wanted our new company's name to represent the heritage of our strongest assets -- assets we are combining into one unified solution to help support the evolution of our industry worldwide."
The new identity for CDK Global incorporates the universally recognized traffic light with the green light illuminated. This simple, smart and powerful symbol represents a commitment to progress and always moving forward, as well as optimism and opportunity. While the new name of the company honors CDK Global's history, the logo and branding represent an entirely new look and feel for the company.
"We feel that now is the time to create a bolder identity. The name preserves our heritage and the new look and feel embodies our commitment to be fresh and transformational. It is a nod to where we came from, and to where we're going," continued Anenen. "We are building a brand and company that will last for generations -- one that empowers our associates and conveys our brand promise. CDK Global does just that."
Upon the spinoff's completion, the new company's website will be CDKGlobal.com.
About ADP With more than $12 billion in revenues and 65 years of experience, ADP(R) serves approximately 637,000 clients in more than 125 countries. As one of the world's largest providers of business outsourcing and Human Capital Management solutions, ADP offers a wide range of human resource, payroll, talent management, tax and benefits administration solutions from a single source, and helps clients comply with regulatory and legislative changes, such as the Affordable Care Act (ACA). ADP's easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealers throughout the world. For more information about ADP, visit the company's Web site at www.ADP.com. http://www.marketwatch.com/story/adp-announces-post-spin-name-of-its-dealer-services-business-2014-08-19