Gannett’s Buy of Cars.com Pushes 2014 to Record Yr for Acquisitions in Automotive Retail

Gannett’s Buy of Cars.com Pushes 2014 to Record Yr for Acquisitions in Automotive Retail

Confirming rumors that have persisted since April, Gannett Co. announced this morning that it is paying $1.8 billion to its four partners to acquire the portion of Cars.com it does not already own. Cars.com is owned by Classified Ventures, which is a joint venture between Gannett, A.H Belo Corp., Graham Holdings Co., Tribune Media and McClatchy. Gannett…

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Cliff Banks - The Banks Report

Analysis of DealerTrack’s Purchase of ASR Pro

DealerTrack yesterday announced the acquisition of ASR Pro, a firm that provides services to the fixed operations department. Although the deal was only for $14 million ($12 million cash, $2 million in stock and another $3 million if future performance levels are met), it sort of is a big deal in that it positions DealerTrack…

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Cliff Banks - The Banks Report

KKR Acquires Internet Brands and CarsDirect

Internet Brands, the parent company to CarsDirect.com and AutoData Solutions, was acquired today by the private equity group KKR for $1.1 billion. JMI Equity and Hellman & Friedman have owned Internet Brands since 2010 when they paid $640 million to take the company private. CEO Bob Brisco, who has run the company since the fall…

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Cliff Banks - The Banks Report

Vista’s Interesting Play with DealerSocket

The story regarding DealerSocket and Vista Equity Partners’ investment in the CRM firm is a bit clearer today but still raises several questions. TBR first broke the story while at the Digital Dealer conference in Atlantic City on May 6th on Twitter reporting that Vista Equity had acquired a majority interest in DealerSocket. A private…

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Cliff Banks - The Banks Report

Vista Equity Acquires Majority Stake in DealerSocket

The story regarding DealerSocket and Vista Equity Partners’ investment in the CRM firm is a bit clearer today but still raises several questions. TBR first broke the story while at the Digital Dealer conference in Atlantic City on May 6th on Twitter reporting that Vista Equity had acquired a majority interest in DealerSocket. A private…

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Cliff Banks - The Banks Report

DealerTrack Acquires Dealer.com — What the Deal Means

Editor’s note: We updated a couple of sections below — the updates are in italics. We stated that Dealer.com was number one in marketshare for websites. The Cobalt Group has an estimated 9,000 franchise dealer websites in North America, Dealer.com has 7,000.  We have several thoughts regarding DealerTrack’s acquisition of Dealer.com which was announced late…

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Big Change in Cars.com’s Future?

October 2, 2013 — The next several months should be interesting for Cars.com. Sister Company for Sale Its owner, Classified Ventures LLC announced on September 3 that it retained investment banking firm Moelis & Co. to explore strategic alternatives — including a sale — for Apartments.com, Cars.com’s sister site. Also included with Apartmens.com are the… Continue Reading