SAN DIEGO — AutoVitals Inc., which provides SaaS solutions to automotive repair and maintenance shops, has acquired BayIQ, which provides loyalty rewards marketing software to the tire and automotive service industry.
The purchase price was not disclosed.
San Diego-based AutoVitals said the acquisition will bolster the company's portfolio of products "aimed at optimizing a shop's performance," such as workflow management, digital vehicle inspection, motorist engagement, POS integration, CRM, retention and websites.
AutoVitals said all of BayIQ's employees will be retained.
Phoenix-based BayIQ, founded in 2016, allows shops to to handle all marketing needs in one place, according to AutoVitals, while providing outreach and incentives for customers.
BayIQ CEO Jennifer Thronson's said the acquisition allows BayIQ to "align with an organization both committed to and capable of furthering our mission to make tire and auto shops more successful. AutoVitals' deep understanding of shop operations and demonstrated success in building mission critical software proves that they are the right partner at the right time."
Jon Belmonte, CEO of AutoVitals, said his firm's Shop Success Solution increases "client average repair order, car count and shop profitability through its technology platform and best practices. BayIQ's motorist engagement offering is having a material impact on customer retention and upselling rates for tire and automotive shops. The addition of a best-in-class customer loyalty platform to our Shop Success Solution will produce even better financial results for our respective clients and for the industry."
The acquisition is AutoVitals' first since private equity firm Tritium Partners invested in the company in 2019. The combined company, according to AutoVitals, has the needed resources to support its growth plans both organically and through acquisition.
"We continue to believe that companies like AutoVitals and BayIQ will play instrumental and expanded roles in the automotive aftermarket as shops look to use software and data to better serve their clients, increase revenue, and improve operations," Chris Steiner, principal at Tritium Partners, said. "We see significant opportunity to deliver an increasingly comprehensive solution and plan to provide the resources necessary to expand our respective go-to-market teams, further enhance product/feature development and pursue additional acquisitions."
Tritium specializes in FinTech and financial services, Internet marketplaces, software data and analytics, supply chain and logistics and tech-enabled business services.