Logix Microsystems acquires ReckonUp

Logix Microsystems, software and platform Development Company announced the acquisition of ReckonUp, a CRM (Customer Relationship Management) product from Prize Corporation. The acquisition is an all cash deal of US$ 4.00 million for the assets of the CRM product which include an experienced team, wide customer base and a strong technology platform. ReckonUp is a web-based application for automobile dealerships to improve operating efficiency and helps manage databases of current and prospective clients. The product enhances existing Dealer Management Systems ("DMS") and effectively creates Business Development Centers ("BDC") for automobile dealers. ReckonUp is certified by leading automotive manufacturers such as GM, Ford, Mercedes Benz, Honda, and Nissan. Commenting on the acquisition, Sanjay Soni, Managing Director, Logix Microsystems, said, "This acquisition will further accelerate our vision to become the leading business solution provider to the USD 650 bn automotive dealership market. We are confident that in the next 12 months we will be able to fully leverage Reckonup backed by our large sales, development and support team and fresh capitalization." Presently, Logix owns good collection of automotive images and rich-media animations.