Wednesday, June 14, 2006
Zag Buys Auto Buying Service
Santa Monica-based Zag has acquired another automotive business, this time purchasing Automotive Invitational Services (AIS), an auto-buying program operator that serves the American Automobile Association (AAA). The company, which is developing an automobile technology and service to change the way consumers purchase cars, said that the move will allow it to provide AAA members with a better car buying experience. Zag recently purchased Autoland, a major provider of automobiles to credit unions. Zag offers it technology platform to affinity buying groups, and is backed by Anthem Ventures, Arcturus Capital, Capital One, and GRP.