By Antone Gonsalves , TechWeb Technology News
AutoTrade Center Inc. and Onlane Group Inc. on Monday said they have agreed to form a combined online auction company for automotive dealers to buy and sell wholesale vehicles.
Called ATC-Onlane Inc., the new company would offer a suite of online remarketing and inventory procurement services to auto manufacturers, consumer off-lease rental car and commercial fleet companies, wholesalers, and franchised and independent car dealers in the United States and Canada.
Together, the companies can offer sellers a broader, more diverse group of dealers, ATC and Onlane officials said in a joint statement. Sellers and buyers would have access to an increased range of services.
"By combining, we gain a more compelling value proposition to attract new consignor customers and further accelerate dealer adoption of the online channel," Clive Kinross, president of Onlane, said.
Senior management from both companies would remain with the combined entity. ATC chief executive Roger Butterwick would become CEO of ATC-Onlane, and Michael Stein, CEO of Onlane, would become chairman.
The combined companies would have more than 200 employees, with headquarters in Menlo Park, Calf. Financial terms of the merger were not disclosed.
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