Community

Share your automotive expertise

2 Write a Blog Post

Filed in: None

Dealertrack to Acquire Dealer.com

By DSNews on Dec 19, 2013

Dealertrack Technologies will acquire Dealer.com for $987 million, pending a regulator approval, and the acquisition is anticipated to be completed in the first quarter of 2014.  Dealertrack will purchase all the equity of Dealer.com for about 8.7 million shares of Dealertrack’s common stock and $620 million in cash. Dealer.com’s valuation was approximately 4 times earnings against approximately $230 million in revenues.

Dealer.com is a leader in digital automotive providing inventory and CRM solutions. Rick Gibbs, CEO of Dealer.com, will join Dealertrack’s leadership team and leading the digital marketing solutions group. It is reported that ex-CEO and Co-Founder Mark Bonfigli will be leaving Dealer.com upon closing of the transaction.

Both companies have been pioneers in the automotive industry, both website and automotive credit accordingly. The purchase of Dealer.com allows Dealertrack to broaden services for lenders dealers and OEMs. Dealertrack feels the cross selling of company products will further strengthen relationships with dealers, lenders and OEMs.

Dealertrack hosted a conference call to discuss this announcement today 2013 at 6:00 p.m. Eastern Time. An excited Mark O’Neill, CEO of Dealertrack, stated the relationship between the two companies has been developing for several years and it felt natural to purchase Dealer.com due to their value in the industry. Mark sees this acquisition as another step towards transforming the automotive retailing industry and making it better for all parties involved. 

Comments

Wow...this is great news for DealerTrack!

As a prominent provider of automotive internet products and services, recognizing the value of the automotive website (any dealer's online identity) as the gateway to all online related transactions for contemporary automotive transactions is a great strategy by Mark O'Neil and is his team of champions at DealerTrack.

A span of the past six months has seen more buzz, more compliments, and more discovery of the creativeness and innovation on deck at DealerTrack than ever in my 15 years of automotive internet experience.

All savvy dealer organization professionals should keep close tabs on the developments at this company which is obviously led by extraordinary automotive internet visionaries.

I know I will...

Dec 19, 2013

Comments 1 - 1 of 2

You must be logged in to comment

Login Create an account

Add your comments:

   

DSNews' Recent Posts

Related Posts

  • Presidents Club 2014: Most Valuable Insight Competition

    This grouping of ten-minute presentations is intended to give speakers an opportunity to reveal new data and research techniques or findings germane to the automotive industry. Kevin Root, President of Driving Sales explained that, “Research, it’s a word that’s tossed out a lot and it means a lot of different things to different people.”Read post

  • Further Changes to Twitter Interface Looking A Lot Like Facebook

    The new Twitter profile look features a header photo that spans the width of the page, appearing very similar to the Facebook cover photo. The new profile also has an in-set user photo above the bio summary, which is also similar to the design of Facebook profiles. Read post

  • Help Your Dealership Bloom with Purchase Options

    Have you ever really explained to your customers the difference between leasing and purchasing a vehicle? Do your customers really understand all their purchasing options? Are your customers opting to purchase a more economical vehicle because they don’t understand they could pay practically the same monthly payment by leasing a higher quality vehicle? Well, don’t you think it is time to explain to them the difference between buying and leasing the vehicles on your lot? Today, you’ll learn some important things to communicate to customers to help them understand their purchasing options. Driving Style Another thing consumers don’t typically think about when purchasing or leasing a vehicle is their driving style. For consumers who will drive their vehicle to work and around town on the weekends, a lease is the perfect option for them. If the consumer wants to use their vehicle for vacation trips, weekend trips, or commutes a long distance to work, they’ll probably want to opt...Read post

  • Video: Selling a Ford F-150 to Jimmy Fallon

    That’s Pete Porzio, talking about hanging out with Tonight Show host Jimmy Fallon. Porzio won the Fingers of a 4×4 Competition that we followed very closely here at DrivingSales News. The question is, how did a highly rated salesmen from Illinois end up kicking it with the highest-rated host in late night comedy?Read post

  • Resolution Media Social Ad Study Findings

    The study found that many advertisers utilized Facebook ads primarily to generate awareness as opposed to engagement or direct-response actions. Therefore, in these cases, marketers optimize for reach and frequency as opposed to CTR or CPC.Read post

  • Become a Google Plus Wizard

    Google Plus was launched in 2011 to battle the growing social media trend on the web. Let's be honest though, the battle was primarily with Facebook and a little about Twitter.  Do you have a Google Plus account, but your not really sure if its worth your time? Well, you're in luck, learn how to become a Google Plus Wizard in this fun infographic by Gryffinn. ...Read post

  • Help Your Dealership Bloom with Fuel Efficiency

    For most of the country, the weather is starting to warm up and for consumers, that means more time outside and on the go. It also means more time spent in your vehicle getting to your destination. This presents a perfect opportunity to reach out to customers and offer them ways to save at the pump. Today I’ll share three ways you can help your dealership bloom with fuel efficiency. Offer Fuel Savings Tips There are many things your customers can do to improve their vehicle’s fuel efficiency. For example, advise them of these cost savings tips - it only takes 30 seconds to warm up their vehicle, turn off their engine while waiting in traffic, slow down and keep their speed below 60 mph, reduce the amount of weight in the vehicle, or drive with the windows up. This simple advice will go a long way to help your customers save at the pump. Promote Fuel Savings Service Package If you want to take your campaign one step further, think of some fuel savings services you can package toge...Read post

  • 7 Reasons to Adopt the New Twitter Profile Right Now

    This week, Twitter confirmed the long-standing rumors of a “face-lift” and launched its new Profile Page design. Currently the switch is "opt-in only" for existing users, yet all newly created accounts are automatically defaulted to the new look. Twitter's new look is more than a fresh coat of paint; there are several functional elements that you can use as a marketer to your advantage. Here are my 7 reasons to adopt the new Twitter Profile right now:Read post