Dealertrack to sell inventory-management business to clear way for Cox merger
Dealertrack Systems Inc. has moved to clear a regulatory impediment to its amalgamation with Cox Automotive by agreeing to sell its stock-management computer software company to DealerSocket for $55 million in funds, Dealertrack mentioned now.
DealerSocket, an important supplier of customer-relationship management applications, has experienced acquisition mode lately. It's purchased two businesses which sell shop operating applications to used car car dealers and today the Dealertrack device.
Stock-management applications helps car dealers purchase and cost used vehicles by offering staff visibility in to what comparable automobiles within their marketplaces are bringing.
Dealertrack is marketing the the system, called Stock+, to eliminate a possible sticking point in its amalgamation with Cox Automotive, a price now under antitrust review from the U.S. Department of Justice. In June, Cox Automotive decided to to purchase publicly traded Dealertrack for $4 billion in money.
Cox Automotive currently gets the sector's biggest stock-management applications unit in its vAuto subsidiary company. VAuto has about 7,500 car dealer customers vs. about 2,000 for Dealertrack's stock management company, which was developed following earlier acquisitions of AAX and eCarList.
Except for stock-management program, the merging firms have complementary, not overlapping, technologies. Cox Automotive h AS auction large Manheim, car purchasing websites Autotrader.com and Kelley Blue-Book, as well as a number of computer software companies.
Dealertrack is the the best choice in finance and insurance applications, has developed on-line retail resources for sellers to supply customers on-line vehicle purchasing and possesses web site and digital-marketing giant Dealer.com.
In its launch nowadays, Dealertrack stated it's working together with the Just-Ice Division to get acceptance for its Cox amalgamation in addition to the selling of the stock unit.
It's possible for you to reach David Barkholz at [email protected] -- Follow David on and
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