2014 is shaping up to be an eventful year in the automotive retail systems market. A recent story in Automotive News pointed out last week, there has been a “frenzy of merger and capital-raising activities among auto-retailing vendors”. Last week, ADP announced its plans to spin-off its Dealer Services business into an independent public company later this year. TrueCar announced plans for a $125 million initial public offering of common stock. DealerTrack Technologies completed auto retail’s biggest acquisition for the year so far with the purchase of Dealer.com for $1billion in cash and stock. And Bloomberg has reported there are plans to sell Cars.com.
LAKE SUCCESS, N.Y., Oct 26, 2009 (BUSINESS WIRE) -- DealerTrack Systems, Inc., a subsidiary of DealerTrack Holdings, Inc. (Nasdaq: TRAK), a leading provider of on-demand software and data solutions for the U.S. automotive retail industry, today announced that it has completed the integration of the DealerTrack Dealer Management System (DMS) with KIA Motors America's Web-based dealer communications system.