The Auto Channel: North America | Europe
AutoTradeCenter and Onlane Complete Merger
MENLO PARK, Calif.--Sept. 12, 2006--AutoTradeCenter, Inc. (ATC) and Onlane Group, Inc. (Onlane) today announced the completion of their merger following approvals by both companies' stockholders. Originally announced as a definitive agreement to merge on July 24, 2006, the transaction was finalized on August 14, 2006. The combined company will be named ATC-Onlane Inc., effective immediately.Senior management from both merging companies will be well-represented within the new combined organization. Most notably, Roger Butterwick, former CEO of ATC, has been appointed CEO of ATC-Onlane, Inc. Michael Stein, formerly CEO of Onlane, has been named chairman of the board. Both appointments are effective immediately.
By merging North America's two leading Internet-based automotive remarketing companies, ATC-Onlane is the industry's largest online auction company for automotive dealers to purchase and wholesale vehicles, delivering the most comprehensive suite of online remarketing and inventory procurement services available in the United States and Canada.
About ATC-Onlane
ATC-Onlane, Inc. is the leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles. The company offers proven, end-to-end auto remarketing solutions to auto manufacturers, captive finance companies, lease and daily rental companies, financial institutions and wholesale auto auctions throughout the United States and Canada. Since 1999, ATC-Onlane's products and services have enabled customers to reduce cycle times, costs, and achieve greater profitability. For more information, please visit www.atc-onlane.com or call 866-969-0321.
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