DealerSocket Buys FEX DMS

San Clemente-based software developer DealerSocket has acquired web-based, auto dealership software maker FEX DMS, the company said Thursday. Financial details of the buy were not disclosed. FEX DMS develops automotive dealer management systems aimed at independent dealers, handling inventory management, deal processing, loan servicing, electronic payments, and other functions for those dealers. DealerSocket provides software for marketing, sales, service, and other functions for auto dealerships, and says it currently has over 6,500 dealers using its software. FEX DMS specifically focused on used car dealers, and was based in Rancho Santa Margarita.