Cox in deal to ac­quire Deal­er­track

Los Angeles Times - - TECHNOLOGY -

Dig­i­tal mar­ket­ing and ecom­merce com­pany Cox Automotive Inc. will buy Deal­er­track Tech­nolo­gies Inc. in an all-cash deal worth about $4 bil­lion.

At­lanta-based Cox Automotive fo­cuses its ser­vices on the automotive in­dus­try. Among its prop­er­ties are Kel­ley Blue Book, Man­heim and Au­to­trade.

Lake Suc­cess, N.Y.-based Deal­er­track makes soft­ware used by auto deal­er­ships.

The deal val­ues Deal­er­track at $63.25 per share, mark­ing a 61% pre­mium from its clos­ing price of $39.19 on Fri­day. Deal­er­track shares climbed $23.13, or 58%, to $62.98.

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