LAKE SUCESS, N.Y., and DETROIT — DealerTrack and Internet Brands announced that Chrome Systems Inc., a DealerTrack company, and Autodata Solutions Inc., a division of Internet Brands, will be combined through a joint venture agreement to form Chrome Data Solutions LP. The partnership will be owned equally by DealerTrack and Autodata Solutions.
“Both Autodata and Chrome Systems are well-known automotive data experts who deliver high-quality offerings to all segments of the automotive industry,” said Bob Brisco, chief executive officer of Internet Brands. “The establishment of Chrome Data will leverage the best assets of both organizations to take the industry to the next level and help customers reach their growth and profitability goals even faster.”
The newly formed entity will be run by the combined management teams of Chrome Systems and Autodata, according to DealerTrack. Greg Perrier of Autodata will be chief executive officer and Mark O’Neil of DealerTrack will serve as chairman of the board.
Chrome Data’s offerings will include syndicated commercial off-the-shelf products for automotive retailers to design and build engagements for large enterprise clients, according to DealerTrack. The joint venture will allow for increased investment in products and services and provide a platform for new innovations in automotive data.
The Autodata Solutions’ Professional Services Group will continue to operate as a separate entity under the Autodata Solutions name, focused on implementing custom professional services engagements, according to the company. The transaction is expected to close in January 2012, subject to customary closing conditions.
“The combination of Autodata and Chrome will allow the North American automotive retail industry, including Internet portals, OEMs, lenders, automotive retailers, and solution providers, to benefit from one-stop shopping for their data and content needs,” said Mark O’Neil, chairman and chief executive officer, DealerTrack. “Each company has an established, trusted legacy of more than two decades of providing data and services to the industry. By bringing together the breadth and depth of both companies, we will set new standards for data excellence and spur innovative new offerings.”