DealerTrack Granted Additional Patent on Its Credit Application Processing Technology
08 3월 2007 - 10:55PM
PR Newswire (US)
LAKE SUCCESS, N.Y., March 8 /PRNewswire-FirstCall/ -- DealerTrack
Holdings, Inc. (NASDAQ:TRAK) today announced that it has been
awarded United States Patent Number 7,181,427 relating to its
online credit application processing product. DealerTrack has filed
an additional patent infringement action against RouteOne LLC and
Finance Express LLC in the United States District Court for the
Central District of California, to add this newly issued patent to
the other two patents it is already asserting against these
companies. All three patents involved in the pending litigations
concern computer-implemented credit application routing systems and
methods of managing credit applications. "DealerTrack values its
intellectual property as an important company asset and intends to
vigorously pursue claims for patent infringement against RouteOne
and Finance Express," said Mark O'Neil, chairman and chief
executive officer of DealerTrack. "We believe this new patent adds
both strength and scope to our patent position. We are pleased with
the progress to date in defending our intellectual property, and
are optimistic that additional patents relating to this technology
will be issued in the future." A "Markman" hearing to review
DealerTrack's claim construction regarding the prior two patents is
scheduled for June 2007. The full text and images of the newly
issued patent, U.S. 7,181,427, are available at
http://www.uspto.gov/ by searching "issued patents." About
DealerTrack (http://www.dealertrack.com/) DealerTrack (NASDAQ:TRAK)
is a leading provider of on-demand software and data solutions for
the U.S. automotive retail industry. The company's online credit
application processing product automates and accelerates the
automotive financing process, while its integrated
subscription-based software enables dealers to receive consumer
leads, compare financing and leasing options, sell insurance and
other aftermarket products, document compliance, and execute
financing contracts electronically. Over 22,000 dealers, with more
than 85% of all franchised dealers, over 325 financing sources, and
other service and information providers are active in the
DealerTrack network. Safe Harbor for Forward-Looking and Cautionary
Statements Statements in this press release regarding DealerTrack,
its current patents and the issuance of additional patents,
prospects regarding pending patent infringement actions and all
other statements in this release other than the recitation of
historical facts are forward-looking statements (as defined in the
Private Securities Litigation Reform Act of 1995). These statements
involve a number of risks, uncertainties and other factors that
could cause actual results, performance or achievements of
DealerTrack to be materially different from any future results,
performance or achievements expressed or implied by these
forward-looking statements. Factors that might cause such a
difference include: increased competitive pressure from other
industry participants, the inability to execute any element of
DealerTrack's business strategy, including the retention of dealers
and financing source customers; future decisions by the United
States Patent Office regarding patent applications by DealerTrack,
progress or outcomes of pending litigation regarding the patent
infringement actions filed by DealerTrack, DealerTrack's success in
expanding its customer base and product and service offerings and
integrating acquisitions; the impact of the automotive retail
industry on DealerTrack's business; the impact of some vendors of
software products for automotive dealers making it more difficult
for our customers to use our products and services, and other risks
listed in the Company's reports filed with the SEC, including the
2005 Form 10-K. These filings can be found on DealerTrack's website
at http://www.dealertrack.com/ and the SEC's website at
http://www.sec.gov/. Forward-looking statements included herein
speak only as of the date hereof and the Company disclaims any
obligation to revise or update such statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events or circumstances. CONTACT: Raphael Carty
DealerTrack (516) 734-3777 Tom Pratt RF|Binder Partners (212)
994-7563 DATASOURCE: DealerTrack Holdings, Inc. CONTACT: Raphael
Carty, DealerTrack, +1-516-734-3777, ; Tom Pratt, RF|Binder
Partners, +1-212-994-7563, Web site: http://www.dealertrack.com/
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