CHICAGO — Cars.com has entered an agreement to acquire DealerRater, according to a company press release. Once approved, the vehicle information site will add the industry's largest review site and its database to the Cars.com platform.
“We are pleased to bring DealerRater into the Cars.com family of industry-leading products, as we create the largest dealer review platform in the automotive sector,” said Alex Vetter, CEO and president of Cars.com. “With this acquisition, Cars.com has solidified its position as the leader in online automotive reviews and the preeminent authority for car shoppers and owners on what to buy, where to buy and who to buy from.”
The transaction, which is expected to close by the end of August, is still subject to regulatory approval and customary closing conditions.
"We are happy to be joining Cars.com and are proud to share a similar foundation," said Gary Tucker, CEO of DealerRater. "DealerRater is uniquely positioned to lead the industry transition to finding not only the right dealer, but connecting consumers with the right person at the right dealer."