Friday, August 21, 2015

DealerSocket Buys Product Line From Dealertrack

San Clemente-based DealerSocket, which develops software for auto dealers, said Thursday that it has acquired the Inventory+ business of Dealertrack. the two said that DealerSocket will pay approximately $55M in cash for the business line. Inventory+ is used by car dealers to manage their automotive inventory. The deal also includes Dealertrack's eCarlist websites, as well as the team behind the business line. The transaction is related, and contingent upon, a separate acquisition of Dealertrack by Cox Automotive. DealerSocket is led by Jonathan Ord.