Intended to provide a broad spectrum of vehicle content offerings, DealerTrack and Autodata Solutions recently entered into a joint venture agreement — one that involves the data solutions business of Chrome Systems.
The result is Chrome Data Solutions, a partnership officials said will be owned equally by DealerTrack and Autodata Solutions, a subsidiary of Internet Brands.
Officials also said the newly formed entity will be run by the combined management teams of Chrome Systems and Autodata. Greg Perrier, of Autodata, will be chief executive officer and Mark O’Neil, of DealerTrack, will serve as chairman of the board.
Chrome Data will provide a broad spectrum of vehicle content offerings to the North American automotive retail market, ranging from syndicated commercial off-the-shelf products for dealerships to custom design-and-build engagements for large enterprise clients.
Officials also highlighted the joint venture will allow for increased investment in products and services and provide a platform for new innovations in automotive data.
The Autodata Solutions’ Professional Services Group will continue to operate as a separate entity under the Autodata Solutions name, focused on implementing custom professional services' engagements.
The transaction is expected to close in January and is subject to customary closing conditions.
The Chrome Data headquarters will be located in Troy, Mich., outside of Detroit with primary offices in Portland, Ore., and London, Ontario.
“Both Autodata and Chrome Systems are well-known automotive data experts who deliver high-quality offerings to all segments of the automotive industry,” stated Bob Brisco, chief executive officer of Internet Brands.
“The establishment of Chrome Data will leverage the best assets of both organizations to take the industry to the next level and help customers reach their growth and profitability goals even faster,” Brisco continued.
O’Neil added, “The combination of Autodata and Chrome will allow the North American automotive retail industry, including Internet portals, OEMs, lenders, automotive retailers, and solution providers, to benefit from one-stop shopping for their data and content needs.
“Each company has an established, trusted legacy of more than two decades of providing data and services to the industry. By bringing together the breadth and depth of both companies, we will set new standards for data excellence and spur innovative new offerings,” O’Neil concluded.