DealerTrack Announces Strategic Agreement With Manheim
09 5월 2007 - 8:00AM
PR Newswire (US)
LAKE SUCCESS, N.Y., May 8 /PRNewswire/ -- DealerTrack Holdings,
Inc. (NASDAQ:TRAK), today announced that it has signed an agreement
with Manheim to enhance DealerTrack's on-demand offering for
dealership inventory management. Manheim and DealerTrack have
agreed that DealerTrack will provide its InventoryPro management
solution to Manheim's POINT customers. Manheim will rely upon
DealerTrack to provide inventory optimization product solutions to
meet their customers' on-going inventory management needs. Manheim
will work with DealerTrack to augment InventoryPro with features of
POINT including access to Manheim Market Reports, Ad Manager and
Manheim Power Search, enabling dealers to search vehicle
availability at Manheim operating locations and OVE.com. The new
version of the InventoryPro management solution is expected to
launch in the third quarter of 2007. Manheim will work with
DealerTrack to market and sell the InventoryPro product and will
assist with transitioning Manheim POINT customers to InventoryPro.
"This agreement with Manheim represents our shared goal of
providing innovative tools to address the needs of DealerTrack's
22,000 active dealers and Manheim's 65,000 dealer relationships,"
said Mark O'Neil, chairman and chief executive officer of
DealerTrack. "As used cars become a more important contributor to
dealer profitability, together we can help dealers better manage
their inventory through powerful analytics and highly relevant live
market data." "We are pleased to have joined another industry
leader to work on these dynamic initiatives that will enable us to
better serve our mutual customers," said Ralph Liniado, senior vice
president of development for Manheim. "We believe this relationship
will benefit our customers by bringing greater efficiency to the
process of managing inventory and positively affecting their
profitability." About DealerTrack DealerTrack Holdings, Inc.
(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, more than
350 financing sources, and many other service and information
providers are active in the DealerTrack network. For more
information, visit http://www.dealertrack.com/. About Manheim
Manheim is the world's leading provider of automotive remarketing
services. Through its wholesale auctions and array of technology
products, Manheim impacts every stage of a used vehicle's life
cycle, helping commercial sellers and automobile dealers realize
the full value of their vehicles. The company's auction services
include reconditioning, certification, inspections, dealer
financing, transport, title management and marshaling, among
others. Manheim is also the leader in remarketing technology, using
its online tools to connect buyers and sellers around the globe to
the world's largest, most comprehensive wholesale marketplace. In
2006, Manheim handled nearly 10 million used vehicles -- and sold
more than 5 million -- representing more than $58 billion in value.
Manheim's subsidiary companies provide value-added remarketing
products and services, including paintless dent removal (Dent
Wizard), Auto Body Repair, and salvage vehicle remarketing (Total
Resource Auctions). A wholly owned subsidiary of Cox Enterprises,
Atlanta-based Manheim is a global organization with 32,000
employees at its 145 U.S. and international locations. For more
information, visit http://www.manheim.com/. Safe Harbor for
Forward-Looking and Cautionary Statements Statements in this press
release regarding DealerTrack, the benefits of the agreement with
Manheim, the features, functionality and customer benefits of the
enhanced InventoryPro product, the expected timing of the
commercial release of the enhanced InventoryPro product 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, without limitation: the timing of the
commercial release of the enhanced InventoryPro product, the market
acceptance of the enhanced InventoryPro product, the ability to
sell the enhanced InventoryPro product to existing and prospective
customers, and other risks listed in DealerTrack's reports filed
with the Securities and Exchange Commission, including the 2006
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 Holdings, Inc. (516) 734-3777 Tom Pratt RF Binder (212)
994-7563 DATASOURCE: DealerTrack Holdings, Inc. CONTACT: Raphael
Carty of DealerTrack Holdings, Inc., +1-516-734-3777, or ; or Tom
Pratt of RF Binder, +1-212-994-7563, or Web site:
http://www.dealertrack.com/ http://www.manheim.com/
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