DealerTrack Acquires Title Management Firm

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LAKE SUCCESS, N.Y. – DealerTrack Holdings, a provider of indirect lending software, said it has agreed to acquire triVIN Holdings, a privately owned provider of automobile title management services to lenders and vehicle registration services to automobile dealers, for $131 million.

FDI Collateral Management, one of triVIN’s two primary businesses, provides electronic and paper-based lien and title solutions that allow lenders to outsource the management of vehicle and titles held as collateral for loans. The company said the new business will serve as a complement to DealerTrack’s existing electronic contracting and paper processing services, and will create a comprehensive suite of outsourced solutions for lenders.

FDI provides services to some of the nation's largest banks and captive automotive finance companies, many of which are existing customers of DealerTrack. FDI connects more than 2,000 lenders with state Departments of Motor Vehicles to process, monitor and report electronic lien and title data.

General Systems Solutions, triVIN’s other primary business, provides vehicle registration solutions that allow automobile dealers, fleet companies and other third parties to electronically register vehicles with DMVs in 12 states, and provides paper-based solutions that allow its customers to obtain vehicle registrations in all 50 states.  GSS has relationships with more than 4,000 dealers, rental and fleet companies.

Groton, Conn.-based triVIN is owned by private equity firm American Capital Ltd.


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