AutoTrader expects to close deal to buy HomeNet Automotive by end of 2010

Article by Christian Andrei, on December 3, 2010 announced that it will purchase HomeNet Automotive of West Chester, Pa., which offers new inventory management services. The deal is expected to close by the end of the year. This is the third acquisition of Atlanta-based AutoTrader in the past three months.

Terms were not disclosed. Last September, AutoTrader announced the purchase of vAuto and in October, it disclosed the planned acquisition of Kelley Blue Book. AutoTrader asserts that buying HomeNet will improve its inventory management and merchandising offerings.

As a result, dealer customers can upload listings quicker and easier and they will gain more control of how to present their inventory.

In a statement, AutoTrader CEO Chip Perry said that the company is constantly looking for opportunities to expand either “organically or through acquisitions.”

HomeNet will operate as a subsidiary. AutoTrader said that Bob Landers, who has been a sales executive with AutoTrader for 10 years and a former vice president of its Southeast division, will become general manager and vice president of HomeNet.

Landers was appointed to replace HomeNet founder and CEO Jesse Biter. [via autonews - sub. required]

Topics: united states

If you liked the article, share on:


Login or Create new account to add a comment!


We’ve seen quite a lot of intriguing stories in the age of Internet (where the most interesting part was revealed before the story unfolds). Some are from movies and novels...
by - October 26, 2016
Many people have long known that the new 2018 RS5 was being developed by Audi AG. Enthusiasts the world over were excited when a prototype was seen running on the...
by - October 26, 2016
It was only recently when BMW officially debuted the new 2017 5-Series Saloon (G30) online. At that time, this range revealed that it had driving dynamics that was the best...
by - October 26, 2016
Starting early 2017, the new Audi Q7 will be available with the new 2.0-liter TFSI four-cylinder engine that makes it not only faster but also lighter and more efficient than...
by - October 25, 2016
Soon, Fiat Chrysler’s Dodge brand will be ending the production of the Dodge Viper. So practically, the 2017 Dodge Viper will be the last Viper up for grabs. Gerry Wood...
by - October 25, 2016