DealerTrack Acquires ClickMotive
DealerTrack acquired ClickMotive, an acquisition officials say will strengthen the company’s digital interactive marketing offerings.
LAKE SUCCESS, N.Y. — DealerTrack today announced the acquisition of ClickMotive LP, a provider of interactive marketing solutions for the automotive retailing industry.
ClickMotive, founded in 2005 in Plano, Texas, is the creator of digital marketing platform that combines the power of Web, mobile, search, social, video, inventory, call-tracking, tag and dashboard tools to generate qualified leads for automotive groups and individual franchised dealers. Currently, more than 3,000 U.S. automotive dealerships leverage ClickMotive's platform.
"With this acquisition, we are able to significantly expand the website and interactive marketing capability we acquired with eCarList," said Mark O'Neil, chairman and CEO of DealerTrack. "Additionally, we believe this acquisition will enhance the competitive positioning of our inventory solution and expand our relationship with a number of key OEMs."
Stuart Lloyd, CEO and co-founder of ClickMotive, added, "This acquisition will allow us to reach more and more dealerships, enabling them to create their own unique digital voice that can be heard across multiple Internet, mobile and social platforms."
Total consideration for the transaction is expected to be $48.9 million in cash, subject to a standard purchase price adjustment and net of certain expenses. Additionally, the sellers will be eligible to receive additional consideration of up to $7.65 million, payable in 2014, if ClickMotive achieves certain performance targets in 2013.
Details on the financial impact of this transaction are expected to be discussed on DealerTrack's third quarter earnings conference call in November.
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