CarsDirect.com Acquires Autodata, Premier Automotive Software and Data Firm
18 August 1999
CarsDirect.com Acquires Autodata, Premier Automotive Software and Data Firm
SHERMAN OAKS, Calif.--Aug. 18, 1999--First Internet Car Company Gains Exclusive Rights to Powerful New Technology Designed to Enhance Customer Service, Deliver Most Accurate
Online Information
CarsDirect.com, the first Internet car company, Wednesday announced that it has acquired the Canadian firm Autodata Marketing Systems Incorporated as a wholly owned subsidiary, effective immediately. Terms of the deal were not disclosed.
Autodata, which is based in London, Ontario, collects information on vehicles, creates software solutions and develops Web-based businesses and products for automobile manufacturers, fleet management companies and auto dealers in Canada and the United States. Its customers include virtually every auto manufacturer in North America.
Autodata's "AutoLink" service provides real-time and ongoing access to complete and timely vehicle data in whatever format a customer's software and database applications require. No other company has the data, tools or technological ability to provide such high quality custom vehicle databases. Given this expertise and dominant North American market share, Autodata's technologies have become the standard for deploying complex vehicle databases and applications.
"Autodata offers the most comprehensive, extensive automobile data and technology on the market -- it's head and shoulders above anything else available, as the company's unparalleled customer acceptance demonstrates," said Scott Painter, chief executive officer, CarsDirect.com. "Through this acquisition, CarsDirect.com can provide its U.S. online car shoppers with a level of customer service, choice and relevant information never before offered in this category. This addition to our organization will empower browsers, shoppers and buyers, and deliver an experience that is qualitatively different from anything currently available online."
Under the terms of the acquisition, Autodata will continue as an autonomous and going concern, focused on providing "best in class" auto-data related solutions to vehicle manufacturers, fleet companies and dealers, according to Gregory Perrier, president and CEO of Autodata. As a testament to this focus, Autodata will change its name to Autodata Solutions Company. The Autodata executive team, led by Perrier and Vice President Chris Wedermann, will continue to manage the company.
"Autodata welcomes this acquisition as it will provide the necessary technical and financial resources to expand globally as a supplier of solutions to the automobile industry," Perrier said.
CarsDirect.com has already begun its deployment of Autodata's proprietary automobile "Comparator," that enables car buyers to compare features, options and prices on two or more vehicles, as well as its "Configurator," that enables car shoppers to build the exact car they want, feature-by-feature. CarsDirect.com will also gain access to soon-to-be-released technologies currently under development.
Together, these technologies let online car buyers view color vehicle interior and exterior images, digital video clips, vehicle brand stories including news releases and reviews, equipment features, dimensions, specification and prices. Shoppers can then compare other makes and models of comparably-equipped vehicles.
While existing solutions assume that consumers already know which vehicle they want, a third key Autodata technology, the user-friendly "Selector," lets car buyers find all of the vehicles that meet any of their price, payment or feature requirements.
"Through these new technologies, CarsDirect.com online shoppers will be able to simply select their desired price range, features and options, and cars of every make and model that meet those requirements will appear on their computer screen, in a side-by-side comparison," said Painter. "Let's say you want a pickup. Rather than having to first decide on a make and model, you plug in the features you want, and we will show you all the pickups that have those features. We'll help you find the vehicle that's right for you."
About CarsDirect.com
CarsDirect.com (http://www.carsdirect.com) is a revolutionary new Internet company that lets consumers complete the vehicle purchase transaction. With CarsDirect.com, shoppers can research, price, design, order and finance a new car or truck over the Web -- selecting from among 2,500 makes and models by every major manufacturer.
Unlike referral services, which point people to a dealer to accomplish the transaction, CarsDirect.com takes the customer from inquiry through financing right up to delivery -- online.
Based in Los Angeles, CarsDirect.com is an idealab! company. Its investors include Goldman Sachs, Foundation Capital, idealab! Capital Partners, MSD Capital L.P., and Primedia Ventures, among others.