Dealer.com was sold to Dealertrack for about $620 million in cash plus stock. Dealertrack is based in Lake Success, N.Y.
A media spokesperson called it a "merging of technologies." No immediate changes are expected at the Burlington facility.
Mayor Miro Weinberger Statement in Response to Dealer.com Announcement:
"Congratulations to everyone at Dealer.com who has contributed to the building of a homegrown, $1 billion Burlington company. Today's news is a tribute to your hard work, unique workplace, and dynamic leadership. The news is also a high-profile demonstration that Burlington is a wonderful place to create and grow a successful tech business that should spur further local investment. I was pleased to hear from Dealer.com’s leadership that today’s events will provide Dealer.com the capital it needs to continue to invest and grow in Burlington and that the management team who we have worked so closely with on many issues during my time in office is remaining in place. I look forward to continuing to work with Dealer.com to improve the South End and create more great jobs in Burlington.”
830 people work at Dealer.com between the Vermont and a California locations. Dealer provides marketing and software for the auto industry.