CDK Global Spin-Off Complete

We previously bought you the story of the spin-off at ADP dealer services. The transition to what is now CDK Global become complete on October 1st. Steve Anenen, CEO of CDK Global said, “This is a monumental day in our history and marks the next step of our journey. There are many driving forces impacting this industry – consumers expecting an improved buying and service experience, and dealerships and manufacturers who see the value of innovative technology to improve productivity and profitability.”

CDK Global is now trading independently. ADP shareholders received one share of CDK stock for every three of ADP they owned as of September 24, 2014. Carlos Rodriguez, President and CEO of ADP sounded optimistic about the transition. He said, “With the completion of the spin-off, ADP’s ongoing operations will be squarely focused on our global HCM strategy, where our solutions already enjoy a leading position.”

Just how big will this company become? They have the resources of ADP behind them and a seasoned CEO in Steve Anenen. Whether they skyrocket to being three times as big as they are, or run into issues, we will keep you up to date with the latest developments.