DealerTrack Canada Completes Acquisition of Trade Tracker, Inc.
TORONTO - DealerTrack Canada, Inc., a subsidiary of DealerTrack Holdings, Inc., has acquired Trade Tracker, Inc. for approximately $1.2 million (CDN) in cash.
Trade Tracker, a privately held company based in Mississauga, Ontario, has about 300 dealer customers across Canada that use its online trade appraisal tool. The appraisal tool enables dealers to review, appraise and track used vehicles sourced via retail trades more efficiently and accurately.
Trade Tracker provides Canadian dealers with a systematic web-based process for vehicle appraisals, helping to eliminate costly errors. The Trade Tracker application also provides significant follow-up and management reporting tools for sales representatives and dealer managers.
In addition, Trade Tracker is MVDA-compliant, incorporating the questions about a vehicle's history that dealers must ask and document to meet the requirements of Ontario's new Motor Vehicle Dealer Act regulations that took effect on January 1, 2010.
"Trade Tracker's brand, its product and especially its people are all very highly regarded by dealers," said Michael Collins, general manager of DealerTrack Canada, Inc. "Trade Tracker is an easy-to-use, economical solution that can bring greater accountability and accuracy to any dealer's vehicle appraisal process. The acquisition of Trade Tracker is strategic for DealerTrack Canada as it adds an important and complementary product to our total inventory management offering.
"DealerTrack remains committed to helping dealers in many facets of their operations," Collins added. "By creating an easy work flow as well as comprehensive records of trade inventory and appraisals through Trade Tracker, we can further deliver on our vision of increasing the efficiency and profitability of our dealer customers."
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