DealerTrack Completes DealerWare Acquisition
LAKE SUCCESS, N.Y. (Aug. 2, 2006) — DealerTrack Holdings has acquired substantially all of the assets and certain liabilities of DealerWare, which is a provider of auto menu selling and other dealership software, executives announced Tuesday.
"We are pleased to announce this addition to DealerTrack Aftermarket Services," said Mark O'Neil, chairman and chief executive officer of DealerTrack. "This acquisition combines two leading providers of menu products, creating a market-leading force within the automotive retail industry that provides superior menu technology and an integrated solution to dealers."
Executives said DealerWare's F&I Menu Wizard is one of the industry's leading aftermarket menu-selling solutions. The company's software suite also includes reporting and compliance solutions, which executives said complement DealerTrack's existing products.
"DealerWare has thrived by providing a number of software products to help our dealer customers maximize their profits," said Michael Absher, president and founder of DealerWare. "We are very pleased to join the DealerTrack team, and particularly look forward to providing our customers the wider opportunities of DealerTrack's network and its sales and finance solutions."
In conclusion, O'Neil stated, "This acquisition supports our growth strategy by adding a number of new customer relationships to our network. We also expect it to positively contribute to the growth and adoption of the DealerTrack Aftermarket Network."