The Reynolds & Reynolds Company, a provider of software, services and forms for auto dealerships, has acquired MSP Proton Dealership IT for security to bolster its cybersecurity offering.
This is technology M&A deal number 703 that MSSP Alert and sister site ChannelE2E have covered so far in 2022.
Chris Walsh, president of Reynolds & Reynolds, explained the benefits of the acquisition:
“Proton and Reynolds are an excellent match due to Proton’s expertise and extremely high service level, and Reynolds’ knowledge, resources and scalability. The quality products and services that Proton offers are an essential part of any car dealer’s plan. With the help of Proton’s products and services and Reynolds’ footprint and resources, dealers across the country now have the help they need to meet the IT and cybersecurity demands placed on them.”
Proton’s focus on the car dealership market
Proton Dealership’s IT offerings include cyber security, cyber incident response, employee awareness training, vulnerability assessments and security monitoring – to keep dealers running smoothly and efficiently, Reynolds & Reynolds began in a press release.
Since its inception in 2014, Proton Dealership IT, headquartered in Morrisville, North Caroline, has grown to more than 400 auto dealerships in 17 US states, according to its LinkedIn profile.
Proton Dealership IT also offers car dealers the opportunity to outsource their IT department, including Security Operations Center, remote help desk and on-site support team. Proton’s analysts work as an extension of a dealership’s internal team to understand their business and proactively respond to threats as they arise, Reynolds & Reynolds said.
FTC Deadline for Dealer Looms
The acquisition comes as the Federal Trade Commission’s (FTC) Safeguards Rule Amendments compliance deadline approaches on December 9, 2022. Many of the changes focus on implementing IT infrastructure needs and cybersecurity programs, Reynolds & Reynolds said.
Reynolds & Reynolds, headquartered in Dayton, Ohio and employing approximately 4,300 people, notes that car dealerships are becoming a prime target for cyberattacks. Related to this, Proton Dealership IT has experience working with dealers and the FBI in ransomware cases to recover data and restore business operations.
Proton Dealership IT Founder Brad Holton explained the synergy with Reynolds & Reynolds:
“Every dealership faces threats to the security and confidentiality of personal information they collect. Ensuring that dealers have access to the best products and services they need to protect that data is essential. We are proud to provide them with the best option, and joining Reynolds gives us the ability to make our services available to any dealer who needs them.”