DealerTrack acquires ASR Pro for $14M in cash, shares Dealertrack Technologies announced the acquisition of substantially all of the assets of ASR Pro, a leading provider of web-based electronic multipoint-inspection and fixed operations services for automotive dealerships. Total consideration for the transaction is approximately $14M in cash and Dealertrack shares; $12M in cash and $2M in Dealertrack shares, subject to standard purchase price adjustments. Additionally, there is $3M of contingent consideration, subject to attaining future performance targets. The company does not expect this acquisition to have a material impact on 2014 guidance.
DealerTrack acquisition should be positive for shares, says JPMorgan JPMorgan believes DealerTrack's acquisition of Incadea PLC will be a positive for the company's growth profile and potential addressable market over a five-year timeframe. The firm expects the company's second "transformational" acquisition in as many years to be positive the stock and reiterates an Overweight rating on DealerTrack.
Barclays to hold a conference Global Technology Conference is being held in San Francisco on December 9-10 with webcasted company presentations to begin on December 9 at 10:40 am; not all company presentations may be webcasted. Webcast Link