Reuters logo
Dealertrack Technologies to buy for about $1 billion
December 19, 2013 / 11:30 PM / 4 years ago

Dealertrack Technologies to buy for about $1 billion

(Reuters) - U.S.-based Dealertrack Technologies Inc TRAK.O said it will buy automotive website 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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below