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July 24, 2006
Online Auto Auction Biggies - AutoTradeCenter and Onlane - Merge
Mesa, AZ's AutoTradeCenter has agreed to merge with rival Onlane out of Toronto, Canada. No financial terms were disclosed for the deal but it will move HQ to Menlo Park, CA.
The companies compete in the B2B automotive remarketing services sector. That means that instead of having to go to a car auction, professional auto buyers and sellers can go on-line.
AutoTradeCenter shareholders include August Capital, Madison Dearborn Partners and Sciens Capital Partners.
ATC powers online auctions programs for American Honda, Chase Manhattan Automotive Financial, Daimler Chrysler Financial, Ford Credit, Enterprise Rent-a-Car, Volkswagen Credit, Porsche Financial Services, and Suburu of America. AutoTradeCenter previously merged with Autodaq in June 2002.
Posted on July 24, 2006 05:04 PM | Posted to eCommerce
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