Adds Innovative Vehicle Merchandising Solutions to Industry Leading Inventory Management Offering
Lake Success, N.Y. – DealerTrack AAX, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK), today announced that it has signed an agreement to acquire substantially all the assets of eCarList LLC, a leading provider of inventory management and merchandising solutions for automobile dealerships. The combination of DealerTrack’s current AAX inventory management solution with eCarList’s product suite of vehicle merchandising, pricing analytics and mobile inventory solutions will provide dealerships with a comprehensive vehicle management offering. Len Critcher, president and chief executive officer of eCarList, along with the entire eCarList management team, will remain with the combined company. The acquisition is expected to close in July, subject to customary closing conditions.
Mark F. O’Neil, chairman and chief executive officer of DealerTrack, commented, “We are extremely excited to announce this acquisition. eCarList is one of the fastest-growing companies in the industry and is a leader in delivering innovative vehicle merchandising and management solutions for the automotive retail industry.” O’Neil continued, “We believe the addition of eCarList will enable DealerTrack to expand its leading position as the industry’s most comprehensive suite of inventory management and merchandising solutions that leverages the best from each company.”
“We look forward to joining the DealerTrack family,” said Len Critcher. “The combination of DealerTrack AAX and eCarList will drive even more innovation to help dealerships generate additional vehicle interest and higher quality Internet and showroom traffic, all while maximizing overall deal profits.”
The financial impact of this acquisition to DealerTrack’s 2011 guidance will be given in conjunction with the release of DealerTrack’s results for the second quarter of 2011.
About eCarList (www.ecarlist.com)
Headquartered in Dallas, Texas, eCarList provides a full suite of inventory management and online marketing tools for the retail automotive industry enabling dealers to appraise, price, and merchandise vehicle inventory online in real-time. eCarList’s services include inventory management, inventory distribution, vehicle appraisal and pricing tools, mobile software, dealership health reporting, CRM, custom web design, and digital marketing solutions via a fully integrated software as a service platform. eCarList improves dealership productivity, inventory turn, sales, and profits for its clients by improving and simplifying the way in which inventory is managed, distributed, and viewed by consumers.
05/25/11
