AutoTrader Acquisition of VinSolutions Finalized
AutoTrader.com’s deal to acquire VinSolutions has closed, meaning VinSolutions is now officially an AutoTrader subsidiary.
The purchase agreement was originally revealed on May 18, and late last week, AutoTrader announced the transaction’s completion.
As some may know, VinSolutions provides such tools as customer relationship management, Internet lead management and inventory management solutions, as well as dealer websites, sales management and desking tools.
VinSolutions also offers social media and direct-targeted marketing campaign tools.
Officials said previously that the companies will collaborate to create value-building methods. These will primarily focus on product development, operations and sales.
The VinSolutions acquisition was one of several that AutoTrader has made as of late. Like prior deals recently, the company said at the time the deal was announced that VinSolutions’ management team would be kept and so would its Overland Park, Kan., headquarters.
“We are thrilled to acquire VinSolutions and add it to our best-in-class portfolio of dealer software solutions companies,” AutoTrader president and chief executive officer Chip Perry said when the original announcement was made.
“Over the last few years, the online marketing and dealer software solutions space has continued to grow and thrive which has been important to dealers’ success, but at the same time, it has become increasingly challenging and cumbersome,” Perry continued.
“VinSolutions will further ramp up our dealer solutions product suite to provide dealers with a simpler, more functional one-stop-shop solution of Internet marketing software tools accessible by the dealer through a single sign-on tool,” he added.