Dealertrack to Acquire

Vehicle dealership technology supplier Dealertrack is to acquire, a provider of online marketing and management software for vehicle sellers.

"By joining forces with, we will be able to provide dealers, OEMs, and other industry partners with a deep and broad array of integrated solutions," said Mark O'Neil, chairman and chief executive officer, Dealertrack. " and its team, whom we’ve long admired and respected, complement our solutions, catapulting our vision of delivering the market leading suite of integrated technologies capable of transforming automotive retailing even further."

Dealertrack will acquire for 8.7 million shares plus $620 million in cash.

Tagged: Vehicles
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