Winnipeg-based Rapid RTC — which manages live chat functions and sales lead management for 4,200 dealers and 27 automakers in North America and Europe — has been sold to U.K.-based software developer Keyloop.
The deal represents a significant step forward for Rapid RTC, founded in 1996 as DMT Development Systems Group by former automotive sales manager Glen Demetrioff. It was rebranded as Rapid RTC (rapid real-time communications) in 2018.
“When we first started DMT, we always had a vision of where our products could land and impact the automotive industry,” Demetrioff said in an interview. “The exciting part now is we’re able to move our products on a much more significant path to being adopted on a global scale.”
The Keyloop acquisition opens the door for Rapid RTC’s products — LiveDealer, Chat, as well as social media and lead management components — to 16,000 dealers across 97 countries, the two companies said in a statement. The deal closed on March 1.
Demetrioff, who got his start in software writing in BASIC on a home computer in the early 1990s, will continue on as president and CEO of Rapid RTC, which will remain based in Winnipeg.
“I’ve always felt I wanted to be part of something bigger and really move the needle on our products globally, so I always knew I’d be answering to a bigger entity one day,” he said.
Chat connects online browsers directly to either an automaker or dealer representative. LiveDealer, the company’s newest product, allows the representative to instantly switch to video conferencing. “It lets the salesperson say, ‘Why don’t I just show you?’ and with the click of a button, switch to video mode,” he said.
In a statement issued March 2, Keyloop, which also acquired U.K. software developer enquiryMAX, said it was “excited” to add products from both companies to its portfolio.
Rapid RTC employs 310 workers in Winnipeg, Dallas, Paris, London and Toronto. Terms of the deal were not disclosed and Demetrioff, who had held the company privately with his wife, Sharon, declined to disclose details of the deal.