Orlando, Fla.-based ActivEngage Inc. has hired an investment bank to evaluate takeover offers from large automotive technology providers. Inbound expressions of interest have come in between about $80 million to $100 million, The Deal’s Jaewon Kang reported. Potential bidders that could be in the mix include DealerTrack Technologies Inc. (TRAK), CDK Global Inc. (CDK), Reynolds & Reynolds Co., AutoTrader.com Inc. and IHS Inc. (IHS). ActivEngage, which makes web-based software to help dealerships and customers converse, doesn’t intend on soliciting interest from more prospective bidders. No timeline for its strategic alternatives process has been set.
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