TRADER Corporation, a provider of online media, dealership software and lender services has acquired Collateral Management Solutions from the Teranet group of companies.

TRADER said the move is designed to enhance its financial technology offerings as an expansion of Dealertrack Canada, its automotive finance system.

CMS is a provider of lien and registration, recovery and insolvency management services for Canadian lenders.

The companies said the collaboration marks a “significant milestone” by aligning the “natural synergies” between the CMS and Dealertrack Canada portfolios.

“With this unique combination of market-leading assets, we are excited to bring distinctive value to the Canadian automotive lending market,” Dealertrack Canada president Jill Hadfield said in a news release. “Our collective expertise, breadth of solutions and extensive data insights make this partnership extremely promising not just for us, but also for our clients and partners.”

TRADER also includes and AutoSync.

Teranet CEO Elgin Farewell said his company is “confident that Dealertrack Canada will continue to build on the tremendous value Teranet has created in the moveable property segment as a national leader. Dealertrack’s capabilities, combined with the exceptional CMS talent that leads, operates and manages this division, will ensure the business continues to provide exceptional value.”

TRADER  said Teranet employees currently servicing CMS will join the Dealertrack Canada team.

AutoTrader launches ‘first-of-its-kind new car shopping experience’ announced the launch of Storefront, which it calls a “first-of-its-kind new car shopping experience” and a “fresh tactic” for automakers and their dealers to promote their new vehicle lineup to consumers through the marketplace.

Storefront is a dedicated space on designed to give Canadians one place to shop for new vehicles from awareness through action.

AutoTrader said Storefront, which is available to OEMs “with an established presence in the Canadian market,” integrates the information and tools that span every aspect of the buying journey. That includes “the manufacturer’s brand story and heritage, new vehicle lineup, custom model pages and branded content, as well as videos and inventory matching technology,” to give an OEM’s dealership network more exposure and sales opportunities.

The experience also includes immersive augmented reality through AutoTrader’s newest technology, Pivot, which provides a 360-degree vehicle view with interactive hot spots for static or video content that allows car shoppers to explore vehicles from every angle.

“Storefront presents an incredible opportunity for automotive manufacturers to tell their story and influence the biggest car shopping audience in Canada,” AutoTrader Media executive vice president for media and new car solution Benoit Laforce said in a release. “We know consumers are unique in how they shop for new cars and their tendencies and preferences are very diverse, so we sought to build a solution that delivers flexibility to the car shopping experience, regardless of the stage the consumer has reached.”

In June, Mitsubishi Motor Sales of Canada became the first OEM to launch Storefront.

“We know roughly 80% of Canadians come to to buy a car,” AutoTrader chief marketing officer Ian MacDonald said, “and our reporting platforms tell us our users exploit a variety of available features on our marketplace, from research to comparison shopping, before they transact.

“We strategically leveraged that knowledge to provide an opportunity for OEMs to step into the mix and present their new vehicle lineup to the millions of Canadians we attract on a monthly basis, while publicizing new cars locally available to shoppers through a manufacturer’s network of dealership operators.”