AutoTrader.com agrees to purchase HomeNet Automotive

Dec. 4, 2010
Is auto inventory solutions leader

AutoTrader.com, the Internet's ultimate automotive marketplace and consumer information website, has agreed to purchase HomeNet Automotive, a leading provider of online inventory management and merchandising solutions.

The addition of HomeNet to the AutoTrader.com family of companies and brands provides AutoTrader.com with a best-in-class inventory management solution for the thousands of auto dealers who use AutoTrader.com to present their inventory of new, used and certified pre-owned (CPO) vehicles to online vehicle shoppers.

Founded in 1996, HomeNet's proprietary "Get. Edit. Deliver" technology has helped thousands of automotive dealers nationwide generate a high volume of leads and increase online vehicle sales. HomeNet's signature solution, the Inventory Online (IOL) vehicle marketing suite, is an industry-leading vehicle inventory management and marketing system.

AutoTrader.com's purchase of HomeNet will bring a variety of benefits to dealers who post vehicles for sale on AutoTrader.com and to car shoppers who use AutoTrader.com to research and compare vehicles, find dealer specials, review inventory of cars for sale and select dealerships to visit.

For dealers, incorporating HomeNet's proprietary inventory management system into AutoTrader.com's dealer tools will allow for easier and faster inventory management and merchandising online. Dealers will be able to upload their listings faster, make updates and adjustments to their listings more easily and overall enjoy more flexibility and control in presenting their inventory for sale on AutoTrader.com.

Consumers shopping for vehicles on AutoTrader.com will have access to better vehicle information, enhanced listings that include more photos and dealer comments, advanced search capabilities and more frequent updates and information about the cars they are shopping for and researching.

The agreement to purchase HomeNet is the third in a series of acquisitions AutoTrader.com has announced in recent months.

In September, AutoTrader.com announced the purchase of vAuto, the automotive retail industry's leading provider of advanced software tools for used vehicle management, pricing and inventory optimization. Then, in October, AutoTrader.com announced its planned acquisition of Kelley Blue Book, one of the most recognized and influential brands in the automotive industry.

AutoTrader.com plans to operate HomeNet as an independent subsidiary.

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