Dealertrack Completes Acquisitions of CFM and VINtek
October 01 2013 - 4:00PM
Business Wire
Dealertrack (Nasdaq:TRAK) today announced the completion of its
acquisitions of Customer Focused Marketing, Inc. (CFM), a provider
of customer relationship management (CRM) and marketing services,
and VINtek, a provider of automotive collateral management,
electronic lien and title (ELT) and consumer automotive finance
processing services.
CFM, established in 1997 and headquartered in Irving, Texas,
provides consumer marketing and management services to automotive
dealers across the United States. Its offerings include a number of
services and technology tools to help automotive dealerships better
manage every aspect of the customer relationship, including
prospect, sales, service and database marketing and communications.
The agreement to acquire CFM was announced on August 27, 2013.
Established in 1990, Philadelphia-based VINtek is a leader in
delivering comprehensive ELT and collateral management services to
more than 3,000 banks, automotive finance companies and credit
unions in the United States. The company offers a number of
industry-leading services and solutions, including electronic
vehicle title, tag and tax processing services, and eSignature/
eContracting solutions supporting the on-line closing of automotive
loans. The agreement to acquire VINtek was announced on September
23, 2013.
Details of the financial impact of these transactions are
expected to be discussed as part of the Dealertrack’s third-quarter
earnings conference call in early November. For the full
announcement press releases, click here for the Dealertrack Press
Room.
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 1,300 lenders, Dealertrack
Technologies delivers the industry’s most comprehensive solution
set for automotive retailers, including Dealer Management System
(DMS), Inventory, Sales and F&I, Interactive and Registration
and Titling solutions.
Safe Harbor for Forward-Looking and
Cautionary Statements
Statements in this press release regarding the benefits to
Dealertrack, its acquisitions of CFM and VINtek, as well as 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 Dealertrack, CFM, VINtek and their
solutions, 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, 2012. These
filings can be found on Dealertrack Technologies’ 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 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
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