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Just heard from a very reliable source that AutoTrader.com is buying/just bought VIN Solutions... any truth to this rumor?
(ADDED: Not a rumor, here is the press release: http://www.prnewswire.com/news-releases/autotradercom-agrees-to-acq...
Are there any real synergies here for AutoTrader.com?
Does this help or hurt VIN customers?
I am here in Kansas City at a VinSolutions sponsored Internet Battle Plan workshop/seminar, and was able to chat with the VinSolutions CEO, CTO and Chief Sales Officer last night. I can confirm that Autotrader has indeed agreed to purchase VinSolutions and that the deal is set up to close in less than 30 days.
According to my VinSolutions sources, the management team has agreed to stay in place at VinSolutions for at least two years and Autotrader is not intent on making any changes that would impact VinSolutions dealers. There were some discussions regarding the VinSolutions team incorporating the use of data that Autotrader has in a manner that would improve their services to dealers.
Personally, I think this is a great deal for all parties involved and expect that the end result will be a net gain for dealers who do business with VinSolutions.