One of Toyota’s suppliers, Revolution has provided Toyota’s dealer management system known as TUNE since 2008, with the software managing functions such as accounting, sales, service, parts and CRM.
The deal was brokered by the Prime Financial Group.
Toyota Australia Vice President Regional and Guest Operations Mike Rausa said more than 200 Toyota and Lexus dealers across Australia are expected to be using the platform by the end of 2023.
"This acquisition gives us the ability to work closely with our dealers to integrate best-practice technologies and know-how in a challenging mobility environment," Rausa said.
"Having a single DMS will provide a complete process and system solution designed to deliver industry-leading customer care through the country's pre-eminent retail network.”
Revolution CEO and co-founder Anthony Nadalini said the business would expand as more Toyota and Lexus dealers adopted TUNE.
"As a stand-alone company within the Toyota group, Revolution now has the certainty and security that will enhance its ability to provide cutting-edge services and support for existing as well as new customers outside of Toyota," Nadalini said.
“In regards to Prime, the team’s guidance in negotiating a complex transaction, in a respectful manner, with one of our largest clients was commercial, practical and effective.”
Prime Financial Partner Roger Cameron said it was a complex deal. “This is about derisking the deal for both sides, to ensure all parties are able to maximise the benefits of the transaction.”
Cameron said Prime completed another mid-market software transaction last year, overseeing accounting and payroll software provider Attaché Software’s sale to The Access Group, the UK-based software provider.
“There is no template for these deals. Every deal has its own unique characteristics. Often our role as advisors is to bridge the gaps in both experience and knowledge between the buyers and sellers.”