ATLANTA and OVERLAND PARK, KS – AutoTrader.com signed a definitive agreement to purchase VinSolutions, a provider of end-to-end solution platforms for dealers including Customer Relationship Management (CRM), Internet Lead Management (ILM), inventory management tools, dealer websites, sales management and desking tools, social media, and direct targeted marketing campaign tools. Terms of the deal were not disclosed. The transaction is expected to close by mid-June.
VinSolutions will operate as a subsidiary of AutoTrader.com, and the two companies will collaborate on methods of infusing value into both companies and all of their customers, which will primarily be in the areas of product development, operations, and sales.
"We are thrilled to acquire VinSolutions and add it to our best-in-class portfolio of dealer software solutions companies," said AutoTrader.com President and CEO Chip Perry. "Over the last few years, the online marketing and dealer software solutions space has continued to grow and thrive which has been important to dealers' success, but at the same time it has become increasingly challenging and cumbersome. VinSolutions will further ramp up our dealer solutions product suite to provide dealers with a simpler, more functional one-stop-shop solution of Internet marketing software tools accessible by the dealer through a single sign-on tool."
Perry continued, "VinSolutions is a strong complement to our existing dealer software companies, and a priority for us will be to ensure the scalability of VinSolutions software & customer support, and to execute on plans for how VinSolutions will integrate with vAuto, HomeNet and CDMdata to create an even more powerful suite of Internet marketing and sales related software solutions for dealers."
Mike Dullea, CEO of VinSolutions.com commented, "Our team is very excited to join forces with AutoTrader.com because we are both passionate about helping dealers use the internet and innovative technology to grow their business. Together we will strive to constantly improve how we serve our dealers and how we help them attract, serve, and retain their customers."
Because AutoTrader.com and VinSolutions are both committed to the interests of all auto dealers, its software tools will be offered on a flexible a-la-carte and no long-term contract basis, and dealers' will have the flexibility to work with their other software vendors. This is consistent with AutoTrader.com's consultative sales approach to help dealers succeed, according to the company. A further priority for AutoTrader.com will be to work to promote open platforms and integration across its software solutions and other dealer software tools. It also will establish policies that provide dealer-friendly data ownership rights to protect dealers' confidential customer data.
"I am a big believer in VinSolutions' value proposition for the industry," said Dale Pollak, founder of vAuto. "VinSolutions is serious about providing dealers with tools that enable them to manage their business effectively and successfully, and this acquisition demonstrates that AutoTrader.com is committed to investing in the dealer software solutions business to benefit customers and the industry as a whole."
Consistent with AutoTrader.com's approach to other acquisitions over the past year, VinSolutions will maintain its current management team led by CEO Mike Dullea and CTO Matt Watson who will continue to help propel the company's growth in the future. VinSolutions will maintain its headquarters in Overland Park, Kan.
The Presidio Group, LLC, through its subsidiary Presidio Merchant Partners LLC, acted as exclusive financial advisor to VinSolutions.