ATLANTA - AutoTrader.com, an automotive marketplace and consumer information website, announced the completion of its transaction to acquire the assets of HomeNet Automotive, a leading provider of online inventory management and merchandising solutions for the automotive retail industry.
AutoTrader.com's purchase of HomeNet's assets will bring a variety of benefits to dealers who post vehicles for sale on AutoTrader.com and to car shoppers who use AutoTrader.com to research and compare vehicles, find dealer specials, review inventory of cars for sale and select dealerships to visit.
For dealers, incorporating HomeNet's proprietary inventory management system into AutoTrader.com's dealer tools will allow for easier and faster inventory management and merchandising online. Consumers shopping for vehicles on AutoTrader.com will have access to better vehicle information, enhanced listings that include more photos and dealer comments, advanced search capabilities and more frequent updates and information about the cars they are shopping for and researching.
The closing of the HomeNet purchase is the third in a series of acquisitions AutoTrader.com has announced in recent months. In September, AutoTrader.com announced the purchase of vAuto, the automotive retail industry's leading provider of advanced software tools for used vehicle management, pricing and inventory optimization. In October, AutoTrader.com announced its acquisition of Kelley Blue Book (www.kbb.com), one of the most recognized and influential brands in the automotive industry. All three purchases have now closed.
"With the closing of the HomeNet acquisition, AutoTrader.com has brought together an amazing set of companies, people and automotive marketing and merchandising solutions under one roof," said AutoTrader.com President and CEO Chip Perry. "We look forward to the next stage of our evolution as we work to continue serving auto manufacturers, auto dealers and auto shoppers through AutoTrader.com and these three outstanding companies."
The HomeNet assets will be acquired by a newly formed wholly-owned subsidiary of AutoTrader.com.