On Jan. 2, GM Financial and GMAC UK acquired Ally’s 40% equity interest in SAIC-GMAC Automotive Finance Company Limited, a joint venture that conducts auto finance operations in China.
Dealertrack is expected to pay $190.3 million for incadea plc, a DMS provider that has more than 75,000 worldwide end users in nearly 3,500 dealerships.
Flick Fusion has acquired Dealer Fusion, a video marketing provider. The company will integrate features and applications from Dealer Fusion’s video platform and make them available to customers of both services.
Autobytel executives said that despite talk of AutoNation and other dealer groups moving away from third-party lead providers, the company has seen a 26% increase in third-quarter revenue thanks to its lead generation services.
Warren Buffett’s holding company, Berkshire Hathaway, is expected to complete its acquisition of the Van Tuyl Group by the opening of 2015. After the purchase, the 78-store group will operate as Berkshire Hathaway Automotive.
Banco Santander has reached an agreement with Carfinco to acquire its Canadian business for $298 million Canadian dollars. Under the agreement, a new company will be formed in which Santander will own approximately 95% of the equity, while top management of Carfinco will retain 5%.
AutoNation has acquired luxury dealership group Barrier Motors in Bellevue, Wash., adding Mercedes-Benz of Bellevue, Barrier Audi, Barrier Porsche and Barrier Volvo.
Public U.S. auto dealers are on pace to book $1 billion in acquisitions for the year, which would be an increase of 43% from 2013, according to a report from Haig Partners.
Gannett Co. has signed a definitive agreement to acquire full ownership of Cars.com for $1.8 billion in cash. Under the agreement, the media company will acquire the firm’s remaining 73% interest from its current owner, Classified Ventures LLC.
Dealertrack announced this week it has acquired all the assets of ASR Pro, a provider of a web-based multipoint-inspection solution and fixed-operations services for dealerships.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In