DealerTrack and ADP Sign New Integration Agreement
LAKE SUCCESS, N.Y., Dec. 5, 2006 -- DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc. , today announced that it has signed a new agreement with Automatic Data Processing, Inc. (ADP) that provides for expanded integration of DealerTrack's credit application and econtracting products with ADP's products and services. Additionally, the new agreement calls for expanded integration with ADP's Credit Check Product.
The agreement expands the data integration between ADP's dealer management systems (DMS) and DealerTrack's products. DMS integration enables critical data to securely move instantly between the DMS and DealerTrack, eliminating the need for duplicate data entry.
"We are very pleased to reaffirm and broaden our relationship with ADP, one of our most valued business partners," said Mark O'Neil, Chairman and Chief Executive Officer of DealerTrack. "This new agreement benefits both of us, and more importantly will help our mutual dealer customers better serve their own customers."
Richard Nichol, Senior Vice President at ADP, said, "These enhanced interfaces will provide a faster, more accurate credit process for the dealer by delivering an improved credit application and credit bureau access workflow. This will also enable data to move more securely between ADP's and DealerTrack's systems. This agreement is part of our ongoing commitment to improve the sales process for dealers to help them sell more cars profitably."
About DealerTrack (http://www.dealertrack.com/)
DealerTrack is a leading provider of on-demand software and data solutions for the U.S. automotive retail industry. Our online credit application processing product automates and accelerates the automotive financing process, while our integrated subscription-based software enables dealers to receive consumer leads, compare financing and leasing options, sell insurance and other aftermarket products, document compliance, and execute financing contracts electronically. Over 22,000 dealers, with more than 85% of all franchised dealers; over 275 financing sources, including nine captives and the 20 largest U.S. independents; and other service and information providers are active in the DealerTrack network.
Safe Harbor for Forward-Looking and Cautionary Statements
Statements in this press release regarding DealerTrack, the benefits of its agreement with ADP and all other statements in this release other than the recitation of historical facts are forward-looking statements (as defined in the Private Securities Litigation Reform Act of 1995). These statements involve a number of risks, uncertainties and other factors that could cause actual results, performance or achievements of DealerTrack to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements.
Factors that might cause such a difference include: increased competitive pressure from other industry participants, the inability to execute any element of DealerTrack's business strategy, including the retention of dealers and financing source customers; selling additional products and services to existing and new customers; DealerTrack's success in expanding its customer base and product and service offerings and integrating acquisitions; the impact of the automotive retail industry on DealerTrack's business; the impact of some vendors of software products for automotive dealers making it more difficult for our customers to use our products and services, and other risks listed in DealerTrack's reports filed with the SEC, including the 2005 Form 10-K. These filings can be found on DealerTrack's website at http://www.dealertrack.com/ and the SEC's website at http://www.sec.gov/. Forward-looking statements included herein speak only as of the date hereof and DealerTrack disclaims any obligation to revise or update such statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events or circumstances.