Calgary-based Quorum Information Technologies, a provider of software services to automotive dealerships and Original Equipment Manufacturers, this week announced that it has successfully acquired VINN Automotive, an automotive marketplace headquartered in Victoria.
This acquisition, Quorum’s fifth in six years, comes as the company seeks to expand its reach in offering comprehensive services to automotive dealerships.
Established in 2019 by Caleb Bernabe, Tom Avant, and Chet Flanagan, VINN changed the vehicle research and purchase process for consumers.
Their platform aims to function a tool on both the consumer and partner side. With the consumer, experts find you a car in your area for the best deal. On the other end, VINN’s dealer partners benefit from higher sale conversions and get connected with car shoppers that are ready to buy.
Despite the auto sales and distribution model largely remaining unchanged since the 1980s, the integration of VINN’s innovative platform with Quorum’s well-established product suite promises to modernize the sector.
“The VINN team has developed a state-of-the-art automotive marketplace and we look forward to working together to scale the business,” says Maury Marks, Quorum CEO. “We extend a warm welcome to the existing, valued VINN dealership customers and stand committed to expanding the number of quality sales leads we provide you.”
VINN’s innovative model has driven substantial customer and revenue growth since raising a seed round in 2021.
By leveraging VINN’s infrastructure and Quorum’s network of dealership customers, the Alberta firm expects the acquisition to be accretive and profitable within the first year.
“The VINN marketplace will complement our dealership vehicle sales solutions as we continue to build our product suite capability beyond our DMS solution,” stated Marks.
Echoing Marks’ sentiment, VINN CEO Caleb Bernabe expressed excitement about the acquisition, recognizing the potential for VINN to deliver a best-in-class consumer experience under Quorum’s umbrella.
“Quorum’s experience partnering with 1,433 dealerships across North America provides a logical home for the tools we’ve built at VINN,” Bernabe explains. “We’re excited to see our solutions continue to scale to vehicle shoppers, and the ability to further integrate with Quorum’s product suite offers the potential for VINN to deliver a best-in-class consumer experience.”