Simpson Thacher Represents Apax Partners in Sale of its Stake in Dealer.com to DealerTrack Technologies, Inc.
12.23.13
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Simpson Thacher represented Apax Partners in connection with the sale of its stake in Dealer.com, a provider of digital marketing and operations software and services to the automotive industry, to Dealertrack Technologies, Inc. Under the terms of the agreement, Dealertrack will acquire 100% of Dealer.com for approximately $620 million in cash and 8.7 million shares of Dealertrack’s common stock. Dealertrack shares are listed on NASDAQ. The deal is subject to customary closing conditions, including regulatory approval, and is expected to close in the first quarter of 2014. Apax acquired about 30% of the shares in Dealer.com in July 2011.
The Simpson Thacher team working on the transaction included Ryerson Symons and Nicole Tague (M&A).