LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--Dealertrack (Nasdaq:TRAK) today announced the completion of its acquisitions of Customer Focused Marketing, Inc. (CFM), a provider of customer relationship management (CRM) and marketing services, and VINtek, a provider of automotive collateral management, electronic lien and title (ELT) and consumer automotive finance processing services.
CFM, established in 1997 and headquartered in Irving, Texas, provides consumer marketing and management services to automotive dealers across the United States. Its offerings include a number of services and technology tools to help automotive dealerships better manage every aspect of the customer relationship, including prospect, sales, service and database marketing and communications. The agreement to acquire CFM was announced on August 27, 2013.
Established in 1990, Philadelphia-based VINtek is a leader in delivering comprehensive ELT and collateral management services to more than 3,000 banks, automotive finance companies and credit unions in the United States. The company offers a number of industry-leading services and solutions, including electronic vehicle title, tag and tax processing services, and eSignature/ eContracting solutions supporting the on-line closing of automotive loans. The agreement to acquire VINtek was announced on September 23, 2013.
Details of the financial impact of these transactions are expected to be discussed as part of the Dealertrack’s third-quarter earnings conference call in early November. For the full announcement press releases, click here for the Dealertrack Press Room.
About Dealertrack Technologies (www.dealertrack.com)
Dealertrack Technologies’ intuitive and high-value web-based software solutions and services enhance efficiency and profitability for all major segments of the automotive retail industry, including dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers. In addition to the industry’s largest online credit application network, connecting more than 20,000 dealers with more than 1,300 lenders, Dealertrack Technologies delivers the industry’s most comprehensive solution set for automotive retailers, including Dealer Management System (DMS), Inventory, Sales and F&I, Interactive and Registration and Titling solutions.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits to Dealertrack, its acquisitions of CFM and VINtek, as well as all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of Dealertrack Technologies to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
Factors that might cause such a difference include the performance and acceptance of Dealertrack, CFM, VINtek and their solutions, and other risks listed in our reports filed with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K for the year ending December 31, 2012. These filings can be found on Dealertrack Technologies’ website at www.dealertrack.com and the SEC's website at www.sec.gov. Forward-looking statements included herein speak only as of the date hereof and Dealertrack Technologies disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.
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