DealerTrack to acquire 1st Auto Transport for $74 million
Dealership management system provider DealerTrack Inc. has agreed to acquire 1st Auto Transport Directory Inc. of San Diego, a provider of Web-based tools for vehicle shipping and transportation, for about $74 million in cash.
DealerTrack's acquisition would include three companies: CentralDispatch.com, a business-to-business network for vehicle transportation; jTracker.com, a customer relations management tool for auto transportation brokers; and MoveCars.com, an online advertising directory for the vehicle transportation industry.
DealerTrack provides Web-based software and services for inventory management, credit application and merchandising to dealers, automakers and lenders.
Mark O'Neil, CEO of DealerTrack, said in a statement that the deal will help the company's clients operate more efficiently.
"1st Auto helps dealers source and dispose of vehicles in a more timely and cost effective manner," O'Neil said.
In particular, he said, CentralDispatch.com will supplement DealerTrack's services.
"Central Dispatch complements DealerTrack's turnkey inventory management services, including analytics, pricing, merchandising, group trade and now transportation, for franchise and independent dealers," O'Neil said.
Wayne Harris, president of 1st Auto Transport Directory, said in a statement: "By joining DealerTrack, we will be able to extend our network into more automotive dealerships than ever before, and it will make it easier for dealers to ship vehicles anywhere, coast-to-coast."
The deal is expected to close in the third quarter, and is subject to customary closing conditions.
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