MENLO PARK, CA
– AutoTradeCenter, Inc. (ATC) and Onlane Group, Inc., Internet-based automotive remarketing companies have signed a definitive agreement that will create an online auction company for automotive dealers to purchase and sell wholesale vehicles.
The combined organization, to be called ATC-Onlane, Inc., will offer online remarketing and inventory procurement services – from pre-turn-in through to post-sale – to auto manufacturers, consumer off-lease, rental car and commercial fleet companies, wholesalers, and both franchised and independent car dealers throughout the United States and Canada.
The combined company will continue to build on existing core competencies in distributed inventory management, logistics, and decision support analytics to match the right vehicles to the right buyers.
Post-merger, the dealer bases of both ATC and Onlane will benefit from the access provided by joining open marketplaces within the United States and Canada, enabling them to purchase inventory from additional sources with a greater product offering. To the benefit of sellers, the combined company will have a broader, more diverse group of automobile dealers participating in a single venue. Both sellers and buyers will benefit from the increased range of services offered through the combined company.
The senior management of both companies will remain with the combined entity. ATC CEO Roger Butterwick will become CEO of ATC-Onlane. Michael Stein, CEO of Onlane, will become chairman. The company will have more than 200 employees with headquarters based in Menlo Park, and major office locations in Mesa, Ariz., and Toronto, Ont., providing full North American coverage with a local presence in key regional markets.