MENLO PARK, CA - AutoTradeCenter, Inc. (ATC) and Onlane Group, Inc. have completed their merger following approvals by both companies' stockholders. Originally announced as a definitive agreement to merge July 24, 2006, the transaction was finalized Aug. 14. The combined company will be named ATC-Onlane Inc., effective immediately.
Senior management from both merging companies will be represented within the new combined organization. Most notably, Roger Butterwick, former CEO of ATC, has been appointed CEO of ATC-Onlane, Inc. Michael Stein, formerly CEO of Onlane, has been named chairman of the board. Both appointments are effective immediately.
By merging the two Internet-based automotive remarketing companies, ATC-Onlane is an online auction company for automotive dealers to purchase and wholesale vehicles, delivering online remarketing and inventory procurement services in the U.S. and Canada.