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News Breaks
July 1, 2014
16:32 EDTTRAKDealerTrack 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.
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