ReconVelocity announced recently the acquisition of competitor Recon Ninjas. Both ReconVelocity and Recon Ninjas service automotive dealers in the U.S. and Canada, providing technology solutions designed to help dealers reduce the time it takes to recondition a vehicle and have it retail-ready faster.
“This is the second acquisition for ReconVelocity since launching less than a year ago,” Hugh Hathcock, owner of ReconVelocity, said. “The purchase is part of our expansion initiative developed from our numerous conversations with retail dealers to understand their needs. I’m excited about this acquisition, as it allows us to rapidly accelerate the expansion of our best-in-class technology and products across the automotive market.”
The newly combined company will create the largest provider of integrated vehicle management and reconditioning software solutions exclusively focused on the automotive industry.
“A goal for ReconVelocity’s expanded recon suite is to offer dealerships a platform that integrates with their current systems, while streamlining the entire recon process,” said Hathcock. “What we’ve built with ReconVelocity is an innovative, versatile solution that will adapt with evolving recon processes.”
Recon Ninjas’ customers will gain immediate access to enhanced recon tools and will benefit from ReconVelocity’s integrated product. In addition, having the largest team of recon experts will provide Recon Ninjas’ customers outstanding support and training.
“Our relationship with our dealers has always been our top priority and ReconVelocity has some great features that we did not, so it is a win-win for everyone,” Jerry Thibeau, CEO and founder of Recon Ninjas said. “This acquisition will enable Recon Ninjas’ clients to receive the latest innovations and increase their dealerships profitability.”
ReconVelocity’s new features include the ability for dealers to jump-start the sales process as soon as the car enters the recon process (ReconMatch). Another feature allows dealers to locate vehicles (VelocityLocate) that are in the recon process both on their lot or at sub contractor facilities using GPS technology.
Hathcock is backed by more than 30 years of automotive experience and was the developer of the automotive CRM company ELEAD1ONE, which was acquired by CDK in 2018.
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