TUNBRIDGE WELLS, U.K. and NEW YORK — Auto Data Network Inc., a provider of software and real-time data services to the automotive industry, has acquired California-based CarParts Technologies, Inc. The deal was completed 17 months ahead of schedule. Terms of the transaction were not disclosed.
CarParts Technologies, is a leading provider of eCommerce enabled software systems to the North American automotive aftermarket supply chain. Founded in 1997 and backed by four venture capital firms, CarParts provides software and eCommerce links to more than 3,000 locations with 10,000 users, including leading automotive aftermarket chains such as Monro Muffler & Brake in the U.S. and Fountain Tire in Canada. In addition, CarParts has implemented eCommerce connections with four of the top aftermarket manufacturers that supply distributors represented by major buying groups such as Parts Plus, which has more than 100 warehouse distributors and more than 50 discrete tire and service chains across all 50 U.S. states and Canada.
“As part of our strategy to become a global market leader in automotive software solutions, entry into the U.S. market has been high on our agenda,” said Chris Glover, chairman of Auto Data Network. “Having recently assembled solutions platform businesses in the European marketplace with substantial annual revenue through our last seven acquisitions, it is now time to commence the compilation of an equivalent market leading operation in the largest automotive market in the world. Of the many companies we looked at, CarParts Technologies is the only one that would provide us with a powerful platform of Microsoft-based solutions that are already being deployed in all 50 U.S. states, and a staff of industry experts.”
“This acquisition folds CarParts Technologies product portfolio into Auto Data Network’s much broader product line,” added David McCann, CEO of CarParts Technologies Inc. “We have found that our larger, market leading customers want comprehensive solution offerings from a single, strong supplier. With complementary applications available to us from Auto Data Network, such as the AutoPart product for small to medium U.S. parts distributors, our customers can select from an even wider range of Microsoft-based solutions. We are excited over the opportunities the combined strengths of Auto Data Network and CarParts will generate, which we believe will enable us to capture a larger market share, and better enable our target customers to derive profits and growth from the $265 billion U.S. aftermarket serving 220 million car and fleet owners.”
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