LAKE SUCCESS, N.Y.,
Oct. 2, 2012 /PRNewswire/
-- DealerTrack (Nasdaq: TRAK) today announced the acquisition
of ClickMotive LP, a leading provider of interactive marketing
solutions for the automotive retailing industry. Total
consideration for the transaction is expected to be $48.9 million in cash, subject to a standard
purchase price adjustment and net of certain expenses.
Additionally, the sellers will be eligible to receive additional
consideration of up to $7.65 million,
payable in 2014, if ClickMotive achieves certain performance
targets in 2013.
(Logo:
http://photos.prnewswire.com/prnh/20101028/DEALERTRACKLOGO )
ClickMotive, which was established in 2005 and based in
Plano, Texas, is the innovator of
an award-winning digital marketing platform that combines the power
of Web, mobile, search, social, video, inventory, call-tracking,
tag, and dashboard tools to generate qualified leads and increase
sales for automotive groups and individual franchised dealers.
Currently, more than 3,000 U.S. automotive dealerships leverage
ClickMotive's platform.
"With this acquisition, we are able to significantly expand the
website and interactive marketing capability we acquired with
eCarList," said Mark O'Neil, chairman, and chief executive officer,
DealerTrack. "Additionally, we believe this acquisition will
enhance the competitive positioning of our inventory solution and
expand our relationship with a number of key OEMs."
"From helping dealers acquire customers to managing those
customers throughout the entire purchase and delivery process,
DealerTrack continues to be an integral part of managing a
dealership's overall workflow," added O'Neil.
"We are looking forward to joining the DealerTrack family," said
Stuart Lloyd, chief executive
officer and co-founder of ClickMotive. "This acquisition will allow
us to reach more and more dealerships, enabling them to create
their own unique digital voice that can be heard across multiple
Internet, mobile, and social platforms."
Details on the financial impact of this transaction are expected
to be discussed on DealerTrack's third quarter earnings conference
call in November.
About DealerTrack (www.dealertrack.com)
DealerTrack's 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. DealerTrack, whose solution set for dealers
is the industry's most comprehensive, operates the largest online
credit application network in the United
States, connecting over 18,000 dealers with more than 1,200
lenders. DealerTrack's Dealer Management System (DMS)
provides dealers with easy-to-use tools and real-time data access
to enhance their efficiency. DealerTrack's Inventory offerings
provide vehicle inventory management, transportation, and
merchandising solutions to help dealers drive higher in-store and
online traffic with state-of-the-art, real-time listings,
accelerate used-vehicle turn rates, and increase dealer profits.
DealerTrack's Sales and F&I solutions allow dealers to
streamline the entire sales process as they structure deals from a
single integrated platform. Its Compliance offering helps
dealers meet legal and regulatory requirements, and protect their
assets. DealerTrack also offers processing and other
solutions for the automotive industry, including a web-based
network for arranging vehicle transportation and shipping,
electronic motor vehicle registration and titling applications,
paper title storage, and digital document services. For more
information visit:
www.dealertrack.com.
Safe Harbor for Forward-Looking and Cautionary
Statements
Statements in this press release regarding the benefits of the
acquisition of ClickMotive, including enhancing our inventory
solution's strategic positioning and expanding our relationships
with OEMs, 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 the
successful completion of the acquisition of ClickMotive, meeting
its financial goals, the acceptance by dealers of DealerTrack as
the owner of the acquired company, 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, 2011. These filings can
be found on DealerTrack's website at www.dealertrack.com and the
SEC's website at www.sec.gov. Forward-looking statements included
herein speak only as of the date hereof and DealerTrack 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
SOURCE DealerTrack