CDK Global reports 6% revenue growth
HOFFMAN ESTATES -- CDK Global Inc. reported financial results for its fiscal year third quarter, ended March 31, including a 6% growth in revenue.
The company reported $460 million in revenue, up $433 million and 6% from the year-ago quarter.
Earnings before income taxes were $96 million, as compared to $71 million in the third quarter last fiscal year.
As previously announced on April 7, CDK entered into a merger agreement in which, subject to certain terms and conditions, CDK agreed to be acquired by Brookfield Business Partners, together with its institutional investor partners. This transaction is expected to close in the third quarter of the calendar year.
Brookfield has commenced a tender offer to acquire all of the outstanding shares of common stock of CDK at a per share price of $54.87 in cash.
With approximately $2 billion in revenues, CDK is a leading provider of retail technology and software as a service solutions, which help auto dealerships and manufacturers run their businesses more efficiently.