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

Article by Christian A., on December 3, 2010

AutoTrader.com 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:

Comments

Recommended

A few months ago, Mercedes-Benz promised that they will be treating everyone to a “big surprise” during the Monterey Car Week. And true enough, many of us were stunned as...
by - August 19, 2017
McLaren has already shown some interest in electrifying their models. And initially, we thought that they will just use hybrid systems to use across their current lineup. Nevertheless, we have...
by - August 19, 2017
Fifty years after its glorious victory at the 24 Hours of Le Mans, Ford launches the 2018 Ford GT ’67 Heritage Edition at the 2017 Monterey Car Week. The red...
by - August 18, 2017
Hyundai has recently unveiled an unnamed pre-production model of its new fuel cell SUV. We don’t know what to call this model just yet, but sources say that this model...
by - August 18, 2017
This weekend at the 2017 Pebble Beach Concours d’Elegance, the BMW Z4 Concept will make its first public appearance. The good news is that we will finally have a real...
by - August 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries