Dealer management supplier ADP Dealer Services is separating from its parent company, ADP, and adopting a new company name, CDK Global.
CDK Global will be one of the largest technology providers to the automotive industry, supporting more than 26,000 dealer sites in more than 100 countries and with nearly 9,000 employees.
The letters of the new name represent three of ADP Dealer Services’ historically largest businesses and most strategic brands. The ‘C’ stands for Cobalt Digital Marketing, which was acquired by ADP in 2010. The ‘D’ references dealer services and the company’s 40 years of experience in the motor retail sector. The ‘K’ links to Kerridge Computer Company, the UK-based DMS supplier that ADP acquired in 2005.
CDK Global offers integrated management and technology solutions to car dealers and manufacturers, and also to heavy truck and motorcycle clients.
Steve Anenen, who will be CDK Global’s chief executive, said: “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.”
Upon the spinoff’s completion, the new company’s website will be CDKGlobal.com.