DealerTrack IPO Could Raise $100M

Published October 22, 2007, 1:00 a.m. EDT

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Updated August 27, 2020, 1:35 a.m. EDT

1 Min Read

LAKE SUCCESS, N.Y. - DealerTrack, the provider of online solutions for indirect auto lending, said it plans to raise up to $100 million with an offering of two-million common shares. Funds raised may help underwrite acquisitions. DealerTrack said it is facing intense competition from CU Direct Corp. (CUDL) and from RouteOne, which is owned by the financing arms of Chrysler, Ford, GM and Toyota. (c) 2007 The Credit Union Journal and SourceMedia, Inc. All Rights Reserved. http://www.cujournal.com http://www.sourcemedia.com

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