LAKE SUCCESS, N.Y.,
Feb. 1, 2011 /PRNewswire/ --
DealerTrack Holdings, Inc. (Nasdaq: TRAK) today announced that it
has completed its acquisition of triVIN Holdings, Inc. ("triVIN"),
a leading provider of automobile title management services to
lenders and vehicle registration services to automobile dealers for
approximately $131 million in cash,
net of acquired cash and working capital. The agreement to
acquire triVIN was announced on January 10,
2011.
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About DealerTrack (www.dealertrack.com)
DealerTrack's intuitive and high-value software solutions
enhance efficiency and profitability for all major segments of the
automotive retail industry, including dealers, lenders, OEMs,
agents and aftermarket providers. Our solution set for dealers is
the industry's most comprehensive. DealerTrack operates the
industry's largest online credit application network, connecting
approximately 17,000 dealers with over 900 lenders. Our Dealer
Management System (DMS) provides dealers with easy-to-use tools and
real-time data access that will streamline any automotive business.
Dealers using DealerTrack AAX get the inventory management tools
and services needed to accelerate turns and increase profit. Our
Sales/Finance and Insurance solution enables dealers to streamline
the entire sales process while structuring all types of deals from
a single integrated platform. DealerTrack's Compliance solution
helps dealers meet legal and regulatory requirements and protect
their hard-earned assets. DealerTrack's family of companies also
includes data and consulting services providers ALG and Chrome
Systems. For more information, visit www.dealertrack.com.
About triVIN Holdings, Inc.
(www.trivin.com)
triVIN Holdings, Inc, through its operating subsidiaries,
provides solutions that streamline motor vehicle credentialing.
From registration and titling to collateral management,
triVIN services dealerships, leasing companies, rental agencies,
financial institutions, and consumers nationwide. The
company's suite of products and services help users increase
efficiency, save money, and provide superior customer service.
FDI offers electronic lien and title management services to
financial institutions, while GSS enables processing of motor
vehicle transactions. RegUSA processes cross-state vehicle
transactions.
TRAK-E
SOURCE DealerTrack Holdings, Inc.