Francisco Partners To Buy CDK Global's International Business For $1.45 Bln

(RTTNews) - Global investment firm Francisco Partners said Monday it has agreed to acquire the international business segment of CDK Global, Inc. (CDK) for $1.45 billion.

CDK's International business segment is a provider of automotive retail software solutions in EMEA and Asia.

"With its leading market position in EMEA and Asia, we believe CDKI is uniquely placed to support this transformation in these regions, and that by becoming a standalone company it will better be able to execute on this exciting opportunity," said Petri Oksanen, Partner at Francisco Partners, who will join the CDKI board of directors upon closing of the transaction.