Dealertrack Technologies to buy Dealer.com for $620M and 8.7M shares
Dealertrack Technologies is acquiring Dealer.com for $620 million after signing a definitive agreement with Apax Partners. Dealer.com is an auto digital marketing and operations software company. This deal is subject to regulatory approval and will be closing in the first quarter.
Apax bought 30% of Dealer.com shares in July 2011. Dealertrack will be acquiring 100% of Dealer.com for $620 million in cash and 8.7 million shares in common stock. This deal is subject to customary closing conditions including regulatory approval.
“Dealer.com and its team, whom we’ve long admired and respected, complement our solutions, and significantly enhance our ability to deliver a market leading suite of integrated technologies capable of transforming automotive retailing,” stated Dealertrack chairman and CEO Mark O’Neil.