Friday, July 9, 2010

Cobalt Acquired by ADP For $400M

Seattle-based The Cobalt Group, a provider of digital marketing products for the automotive industry, is being acquired by Automatic Data Processing, ADP said this morning. The deal is worth approximately $400M. ADP said the buy will help it extend its ADP Dealer Services offering beyond its core dealer management system offering. Cobalt provides marketing services for automotive dealerships in the United States.