Terms of the deal were not disclosed. Reynolds’s Kettering campus of 1,300 employees will likely not grow larger as a result, and IMN’s 100 employees will remain in the Boston area, said Trey Hiers, Reynolds vice president of marketing.
Serving auto dealers remains Reynolds’ primary focus, but the acquisition does help the company broaden its array of customers and products, Hiers said.
“Automotive is always our primary focus, but it’s not new for us to be out of automotive,” Hiers said.
IMN will be added to Reynolds’ digital marketing and advertising services for the auto industry, letting Reynolds expand its offerings, as well as build on IMN’s customer base to expand beyond automotive into new market areas, the company said in its announcement.
IMN has customers in the direct selling, banking, credit union, insurance, technology and franchise industries. The acquisition gives Reynolds an opportunity to grow the company’s marketing services and digital technology within these markets.
Asked about past reports that Reynolds itself may be an acquisition target, a spokesman said the company does not comment on market rumors. But Hiers also said: “This (acquisition) is probably the best and latest sign that we continue to invest in our business.”
Massachusetts-based IMN is known for Loyalty Driver for Automotive, a newsletter and content service used by more than 2,000 auto dealers nationwide.
Reynolds develops and sells information management systems for auto dealers. The privately held company has major operations in Houston and College Station, Texas and Celina, Ohio.
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