December 19, 2013 / 11:30 PM / in 4 years

Dealertrack Technologies to buy Dealer.com for about $1 billion

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(Reuters) - U.S.-based Dealertrack Technologies Inc TRAK.O said it will buy automotive website Dealer.com from private equity firm Apax Partners in a deal valued at about $1 billion.

Dealertrack will pay London-based Apax, one of the oldest private equity firms, about $620 million in cash and 8.7 million shares of its common shares.

The deal is expected to add to Dealertrack's profit.

Dealertrack's shares, which closed at $42.80 on the Nasdaq on Thursday, were down about 3 percent in extended trading.

Reporting by Tasim Zahid in Bangalore; Editing by Phil Berlowitz

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