Automotive marketplace and consumer information website AutoTrader.com has acquire the assets of HomeNet Automotive, a lprovider of online inventory management and merchandising solutions for the automotive retail industry. The HomeNet assets will be acquired by a newly formed wholly-owned subsidiary of AutoTrader.com.
For dealers, incorporating HomeNet’s proprietary inventory management system into AutoTrader.com’s dealer tools will allow for easier and faster inventory management and merchandising online. Consumers shopping for vehicles on AutoTrader.com will have access to better vehicle information, enhanced listings that include more photos and dealer comments, advanced search capabilities and more frequent updates and information about the cars they are shopping for and researching.
The closing of the HomeNet purchase is the third in a series of acquisitions AutoTrader.com has announced in recent months. In September, AutoTrader.com announced the purchase of vAuto, the automotive retail industry’s provider of software tools for used vehicle management, pricing and inventory optimisation. In October, AutoTrader.com announced its acquisition of Kelley Blue Book.
“With the closing of the HomeNet acquisition, AutoTrader.com has brought together an amazing set of companies, people and automotive marketing and merchandising solutions under one roof,” said AutoTrader.com President and CEO Chip Perry. “We look forward to the next stage of our evolution as we work to continue serving auto manufacturers, auto dealers and auto shoppers through AutoTrader.com and these three outstanding companies.”
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- AutoTrader.com closes the Kelley Blue Book acquisition Posted on December 16, 2010
- AutoTrader.com to acquire Kelley Blue Book Posted on October 27, 2010
- AutoTrader.com acquires vAuto Posted on October 18, 2010
- Cox Enterprises sells 25% of AutoTrader.com to Providence Equity Partners Posted on May 5, 2010