LAKE SUCCESS, N.Y. -- DealerTrack Holdings, a software provider for the automotive industry, announced last Friday that it has acquired the AAX(R) suite of inventory management solutions and other assets from JM Dealer Services Inc. The AAX inventory management suite will be marketed in conjunction with the current DealerTrack inventory management solution, InventoryPro.
Launched in 2002, AAX is the industry's leading solution with a wide variety of users, including the nation's top six dealer groups. AAX has delivered strong used vehicle profit growth for their dealership customers coupling insightful analysis of transaction data with the industry's most successful in-store inventory management consulting services.
"Building upon our current assets, including InventoryPro and data and analytic services provided by Chrome(R) and ALG(R), the acquisition of AAX now positions DealerTrack as the industry's most complete and best-in-class inventory management solution provider," said Mark O'Neil, chairman and chief executive officer of DealerTrack. "We see inventory management as one of the fastest growing and most important segments within the dealership technology market and we believe we are well positioned to lead this growth. Additionally, we look forward to broadening our relationship with JM Family Enterprises Inc. (parent company of JM Dealer Services) beyond inventory management."
"We are very proud of how our associates have developed the AAX suite of inventory management solutions into the recognized leader in the marketplace," said Colin Brown, president and chief executive officer of JM Family Enterprises. "DealerTrack is a great fit and we look forward to working with them as a technology partner."
Separately, DealerTrack has further enhanced InventoryPro with the inclusion of additional transaction data and expanded analytic capabilities provided by ALG and the ability to update internet pricing. With these additions, InventoryPro has become an even stronger fully featured solution offered at an attractive price.
PriceDriver will be introduced at NADA as a stand-alone product which allows dealers to see current market pricing for vehicles in a clear and detailed format. Moving forward, DealerTrack will be offering three unique inventory management solutions for a dealer to choose from: AAX, InventoryPro and PriceDriver.
O'Neil stated, "We are really excited about the position this acquisition gives us in inventory management. With the AAX team's strong industry knowledge and DealerTrack's best-in-class technology capability we look forward to growing both platforms to help our dealers succeed no matter what their business demands."