[Sent from Ralph Paglia's iPhone]
I have exciting news to share with you. Today, ADP Dealer Services announced that it will be acquiring Cobalt. Following the closing of the acquisition Cobalt will be a critical pillar of ADP's expanded Digital Marketing group. In ADP I am thrilled to have found a partner that values what Cobalt has achieved over the past 15 years and enables us to accelerate the delivery of innovative solutions and business results for our dealers. We could not ask for a better combination for you or our employees.
What will this mean for you? You will not see any immediate changes. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2010. Until then ADP Dealer Services and Cobalt will operate as independent businesses.
Once the acquisition is finalized I will lead the new ADP Digital Marketing group within ADP Dealer Services, from Cobalt's offices in Seattle. The new group will include all of the digital marketing capabilities of ADP, including BZ Results, Cobalt and Dealix. This organization will be uniquely positioned to deliver a comprehensive set of digital marketing solutions that will help transform the ways you and your manufacturers market and sell vehicles.
Over the past few years, Cobalt has brought you innovative new capabilities to support your sales goals such as Digital Advertising Packages, ProCare marketing services, and marketing performance analytics that have helped you sell more cars at lower cost in alignment with your OEM's marketing efforts. ADP and BZ Results have built leadership capabilities to support the independent digital marketing needs of dealers and groups in areas such as dealer branding, social media, fixed operations and online ordering. We understand that many of you have both sets of needs. The potential of this combination is to share the best solutions from both Cobalt and BZ across both platforms, providing you choice and the benefits of working with a single partner able to support all your digital marketing needs.
I, and the rest of your Cobalt team, are excited about joining one of the most respected companies in the world. We remain committed to providing you the best digital marketing solutions in the auto industry. This combination will enable us to deliver on that commitment faster and with clear accountability for the only result that matters – helping you sell more cars.
I look forward to sharing more information on our plans and strategy after the deal is closed. If you have any questions in the meantime please contact your Cobalt Account Executive, Account Advocate, or call 1-206-219-8000.
I'd like to thank you for your business and for your confidence in Cobalt. In partnership with ADP, we're going to rise to even greater heights as we work to prove how a dollar spent on advertising turns into a dollar earned for our OEM and dealer customers.
John Holt
2200 First Avenue South, Suite 400 | Seattle, WA
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