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Logix Microsystems acquires ReckonUp

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Announcement Companies & Industry
Mumbai, August 1, 2007: Logix Microsystems Ltd, India's premier software and platform development today announced the acquisition of ReckonUp, a CRM (Customer Relationship Management) product from Prize Corporation. The acquisition is an all cash deal of US$ 4.00 million for the assets of the CRM product which include an experienced team, wide customer base and a strong technology platform. With this acquisition, Logix has further strengthened izmoCRM, the Customer Relationship Management Offering of Logix Microsystems in the U.S. market.
 
ReckonUp is a web-based application for automobile dealerships to improve operating efficiency and helps manage databases of current and prospective clients. The product enhances existing Dealer Management Systems ("DMS") and effectively creates Business Development Centers ("BDC") for automobile dealers. ReckonUp is certified by leading automotive manufacturers such as GM, Ford, Mercedes Benz, Honda, and Nissan.
 
Commenting on the acquisition, Sanjay Soni, Managing Director, Logix Microsystems said, "This acquisition will further accelerate our vision to become the leading business solution provider to the USD 650 bn automotive dealership market. We are confident that in the next 12 months we will be able to fully leverage Reckonup backed by our large sales, development and support team and fresh capitalization."
 
Presently, Logix owns the world's largest collection of automotive images and rich-media animations. The path breaking rich-media online sales solution developed by Logix Microsystems is the Industry Standard in the U.S., used by Yahoo! Autos and thousands of prominent Auto Dealer Groups and Dealers. Logix and izmocars have now become the perfect solution as auto dealers further explore new technological avenues to increase sales.
 
All Logix products are marketed in the U.S. by izmocars, its 100 % US subsidiary.
 
Both izmocars and izmoCRM are owned by Logix Microsystems Limited.
 
About Logix Microsystems Ltd.
 
Logix Microsystems is India's premier software and platform development company with a niche in automotive e-retailing solutions targeted at the automotive dealer market in the USA & Europe. Logix provides customized web marketing platforms including online stores, car animation and graphics, online marketing tools, hybrid internet sales system among other products. The company has a client base of more than 700 clients covering 1000 rooftops. Key clients include General Motors, Ford, Mitsubishi, Autonation "� the world's largest auto dealership group, Yahoo Inc, to name a few.

 
 

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First Published: Aug 02 2007 | 12:00 AM IST

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