TRADER Corporation announced that it has agreed to acquire the Canadian operations of Dealertrack from Cox Automotive’s Canadian Retail business.
TRADER comprises the AutoTrader.ca marketplace and AutoSync, a provider of dealer and OEM software.
“We’re delighted to welcome so many Canadian employees and customers to join us here at TRADER,” said Sebastian Baldwin, CEO of TRADER Corporation. “This investment will enable us to deliver the same levels of product efficacy, innovation and service that our existing customers enjoy, to even more Canadian dealerships and OEMs.”
TRADER will bring to bear its experience and focus on Canadian dealers and the Canadian market to better serve dealers and their customers. In the meantime, the company noted that most Canadian Cox Automotive Retail employees are expected to transition to TRADER, meaning that customers can expect no disruption day-to-day.
”As Cox Automotive continues evolving to meet the changing dynamics of the industry and the needs of our customers, we believe this is the right time and opportunity for these businesses and team members to join TRADER Corporation and help deliver a deeper market-specific Canadian retail solution,” said Mark Bowser, EVP, Chief Financial Officer, Cox Automotive. “While it is very difficult to say goodbye to some of our incredible team members in Canada, we thank them all for their countless contributions to Cox Automotive and wish them well as they continue the great work that has made these businesses so successful.”
In addition to Dealertrack Canada, TRADER has also agreed to acquire the Canadian operations of software businesses VinSolutions, Dealer.com, Xtime and Kelley Blue Book from Cox Automotive Retail.