acquires

CARS Acquires CreditIQ Automotive Fintech Platform, Enabling Instant Financing For Consumers, Dealers and Lenders

CHICAGO, Nov. 4, 2021 /PRNewswire/ — Cars.com Inc. (NYSE: CARS) (“CARS” or the “Company”), a leading automotive marketplace platform that provides a robust set of industry-specific digital solutions, announces it has signed a definitive agreement to acquire CreditIQ, a cutting edge automotive fintech platform that provides instant online loan screening and approvals to facilitate online car buying. Consideration for the transaction will be $30 million at closing, funded using cash on hand, with the potential for up to an additional $50 million in performance-based cash consideration to be earned over the next three years. The transaction is expected to close this month.

“The acquisition of CreditIQ technology facilitates CARS’ entry into the rapidly-growing, multi-billion dollar Auto Finance market, expanding our TAM beyond the $35 billion Auto Advertising and Dealer Technology markets we operate in today. We’re excited to participate in this space with powerful digital solutions for dealers that

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CARS Acquires CreditIQ Automotive Fintech Platform, Enabling Instant Financing For Consumers, Dealers and Lenders | News

CHICAGO, Nov. 4, 2021 /PRNewswire/ — Cars.com Inc. (NYSE: CARS) (“CARS” or the “Company”), a leading automotive marketplace platform that provides a robust set of industry-specific digital solutions, announces it has signed a definitive agreement to acquire CreditIQ, a cutting edge automotive fintech platform that provides instant online loan screening and approvals to facilitate online car buying. Consideration for the transaction will be $30 million at closing, funded using cash on hand, with the potential for up to an additional $50 million in performance-based cash consideration to be earned over the next three years. The transaction is expected to close this month.

“The acquisition of CreditIQ technology facilitates CARS’ entry into the rapidly-growing, multi-billion dollar Auto Finance market, expanding our TAM beyond the $35 billion Auto Advertising and Dealer Technology markets we operate in today. We’re excited to participate in this space with powerful digital solutions for dealers that

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LaFontaine Automotive Group acquires Superior Buick GMC in Dearborn

LaFontaine Automotive Group, a Michigan-based car dealership group, said Friday that it has acquired Superior Buick GMC in Dearborn, the latest expansion for LaFontaine amid a broader dealership consolidation trend.

LaFontaine said this deal — financial terms of which were not disclosed — brings its count of Buick GMC dealerships to four. It most recently follows LaFontaine’s acquisition of Signature Lincoln.

And in what the company characterized as “an aggressive acquisition path,” it said it has added 15 retail locations in Michigan in the last five years. In all, the group now includes 48 retail franchises, 10 collision centers and 28 Michigan retail locations. It represents the following brands: Buick, Cadillac, Chevrolet, Chrysler, Dodge, Ford, Fiat, Genesis, Honda, Hyundai, Jeep, KIA, Mazda, RAM, Polestar, Subaru, Toyota, Volvo and Volkswagen.

In a statement, LaFontaine CEO Ryan LaFontaine said there is a “tremendous opportunity in the Dearborn community and surrounding cities to

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Stuckey Automotive acquires Joel Confer Ford of Bellefonte

CENTRE COUNTY, Pa. (WTAJ) Stuckey Automotive has acquired Joel Confer Ford of Bellefonte, according to an announcement by President Matt Stuckey Wednesday.

Joel Confer Ford of Bellefonte will be known as Stuckey Ford of Bellefonte as of July 1 and will open July 8. The business was owned and operated by the Confer family since 2004. This will mark the fifth dealership under Stuckey Automotive, including two locations in Hollidaysburg, one in Altoona and one in State College.

According to Stuckey Automotive, the agreement came to be after the businessmen were introduced by a mutual colleague and friend.

“This introduction is one for which I’ll always be grateful,” Matt Stuckey said. “We were gifted an opportunity to grow our brand in Centre County.  It’s humbling when a man like Joel trusts that you’ll care for his business and customers as you

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