Dealertrack Acquires ASR Pro
02 7월 2014 - 5:30AM
Business Wire
Acquisition Strengthens Dealertrack’s Suite of
Market Leading Technologies for the Fixed Operations Market
Dealertrack Technologies (Nasdaq:TRAK) today announced the
acquisition of substantially all of the assets of ASR Pro, a
leading provider of web-based electronic multipoint-inspection and
fixed operations services for automotive dealerships.
Launched in 2004, ASR Pro software is designed to help maximize
workflow efficiencies and increase profitability for automotive
service and parts departments within dealerships. The company,
which is based in Raleigh, North Carolina, and employs
approximately 35 team members, helps track, measure and manage
service sales and utilization for dealers to create additional
service opportunities, increase profits, improve customer
satisfaction and grow their customer base.
“The acquisition of ASR Pro will augment our existing integrated
suite of fixed operations offerings. With the proper management and
control of the service lane and shop, we feel that the opportunity
for capturing additional service revenue for dealers is
tremendous,” said Raj Sundaram, executive vice president, Dealer
Solutions, Dealertrack. “The powerful combination of our dealer
management system (DMS) and ASR Pro will help dealers transform
their service business and benefit from the rapidly growing fixed
operations marketplace.”
According to Fred Fordin, chief executive officer, ASR Pro, “The
joining of our organization with Dealertrack’s resources and
expertise will help more dealers create a sustainable and
profitable service and parts business, while significantly
improving customer satisfaction and retention. We look forward to
being part of Dealertrack and continuing to bring innovative
solutions to the fixed operations market.”
Total consideration for the transaction is approximately $14
million in cash and Dealertrack shares ($12 million in cash and $2
million in Dealertrack shares), subject to standard purchase price
adjustments. Additionally, there is $3 million of contingent
consideration, subject to attaining future performance targets. We
do not expect this acquisition to have a material impact on our
2014 guidance.
Details of the financial impact of the transaction are expected
to be discussed as part of Dealertrack’s second-quarter earnings
call in August.
About Dealertrack Technologies
(www.dealertrack.com)
Dealertrack Technologies’ intuitive and high-value web-based
software solutions and services enhance efficiency and
profitability for all major segments of the automotive retail
industry, including dealers, lenders, OEMs, third-party retailers,
agents and aftermarket providers. In addition to the industry’s
largest online credit application network, connecting more than
20,000 dealers with more than 1,400 lenders, Dealertrack
Technologies delivers the industry’s most comprehensive solution
set for automotive retailers, including Dealer Management System
(DMS), Inventory, Sales and F&I, Digital Marketing and
Registration and Titling solutions.
Safe Harbor for Forward-Looking and Cautionary
Statements
Statements in this press release regarding the benefits of
Dealertrack's solutions, ASR Pro, any conclusions or statements
based thereon 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 Technologies 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 the
performance and acceptance of the Dealertrack solutions, including
ASR Pro, the performance of Dealertrack's third-party partners, and
other risks listed in our reports filed with the Securities and
Exchange Commission (SEC), including our Annual Report on Form 10-K
for the year ending December 31, 2013 and our Quarterly Reports on
Form 10-Q. These filings can be found on Dealertrack Technologies'
website at www.dealertrack.com and the SEC's website www.sec.gov.
Forward-looking statements included herein speak only as of the
date hereof and Dealertrack Technologies 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.
TRAK-G
Dealertrack Technologies, Inc.Ken Engberg,
516-734-3692kenneth.engberg@dealertrack.comorMichael DeMeo,
516-734-3691michael.demeo@dealertrack.com
(MM) (NASDAQ:TRAK)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
(MM) (NASDAQ:TRAK)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024