UK-based automotive dealership software maker Pinewood has agreed to a £545 million cash takeover by US private equity firm Ridgeview, according to a Financial Times report summarized by Techmeme. The reported deal gives Ridgeview control of a software company focused on automotive dealerships. The Financial Times describes Pinewood as the former software division of Pendragon. The agreement follows an earlier takeover attempt involving Apax that fell through, according to the same report. The provided material does not specify why the Apax process failed, the exact terms beyond the cash consideration, or an expected closing date. For now, the confirmed shape of the transaction is narrow: Pinewood has agreed to be acquired by Ridgeview for £545 million in cash, with the deal coming after a rival private equity process did not complete. Further details will matter for customers and investors, including approval conditions, management plans, and whether Ridgeview intends to change Pinewood’s product or commercial strategy. Who benefits: Ridgeview gains an agreed path to acquire a UK dealership software asset. Pinewood shareholders would receive cash if the transaction closes on the reported terms. Who's exposed: Pinewood customers and employees are exposed to potential ownership changes, though no operational changes are specified in the provided material. Apax is the losing or withdrawn bidder in the reported sequence.