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MarketScreener Homepage  >  Equities  >  Nasdaq  >  TrueCar Inc    TRUE

TRUECAR INC (TRUE)
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TrueCar : Acquires DealerScience

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12/07/2018 | 06:17pm CET

SANTA MONICA, Calif. and BOSTON, Dec. 7, 2018 /PRNewswire/ -- TrueCar, Inc. (NASDAQ: TRUE), and DealerScience, LLC announced today that TrueCar has acquired DealerScience, the automotive retail industry's leading provider of advanced digital retailing software tools.

DealerScience will operate as a subsidiary of TrueCar, focused on product development, sales and customer training. Dealer customers of TrueCar and DealerScience can expect to see improvements that enable them to expedite vehicle desking, calculate accurate monthly payments and streamline the consumer experience from shopping to showroom.

'Consumers expect to be able to configure more elements of their car deal online and they want greater transparency and validation of the elements of their car deal,' said Chip Perry, TrueCar's president and chief executive officer. 'We believe that dealers that place DealerScience's state-of-the-art digital retailing tools on their own websites, in their showroom and within TrueCar's marketplace will be well positioned to generate strong growth and profitability.'

'I am excited to see DealerScience join forces with TrueCar,' said Andrew Gordon, DealerScience's founder. 'Our two companies share a common passion for helping both consumers and dealers leverage technology through strong product innovation and customer service. Together, we are intent on ensuring that customers of both DealerScience and TrueCar continue to benefit from the expertise and pace of innovation that they have come to depend on and trust. We also expect to provide to both companies' dealers improved data products and services enabled by the combination of TrueCar and DealerScience.'

'Today, many dealers are embracing digital retailing and it is clearly a wave of the future,' said Perry. 'We believe that it is important as a third-party provider to enable dealers to participate in this trend in a way in which they maintain control of the timing and content of F & I offers and products provided to their customers through digital retailing tools.'

DealerScience will maintain its team, led by Gordon, who will assume a new role as VP of Digital Retailing at TrueCar. DealerScience's headquarters will remain in Boston.

About TrueCar
TrueCar, Inc. (NASDAQ:TRUE) is a digital automotive marketplace that provides comprehensive pricing transparency about what other people paid for their cars and enables consumers to engage with TrueCar Certified Dealers who are committed to providing a superior purchase experience. TrueCar operates its own branded site and its nationwide network of more than 16,000 Certified Dealers also powers car-buying programs for some of the largest U.S. membership and service organizations, including USAA, AARP, American Express, AAA and Sam's Club. Over one half of all new car buyers engage with the TrueCar network during their purchasing process. TrueCar is headquartered in Santa Monica, California, with offices in San Francisco and Austin, Texas. For more information, please visit www.truecar.com, and follow us on Facebook, Instagram, Twitter and get updates on our blog.

TrueCar media line: +1-844-469-8442 (US toll-free) | Email: pressinquiries@truecar.com

About DealerScience
DealerScience, LLC is the leading provider of digital retailing software tools to the automotive industry, enabling dealers to desk deals, create website specials and respond to customer inquiries faster, easier and more accurately. Founded in 2011 by a third-generation dealer, DealerScience's software solutions automate high-impact, high-effort tasks and are available to car dealerships across the United States. DealerScience is headquartered in Boston, Massachusetts and currently has 28 employees.

View original content to download multimedia:http://www.prnewswire.com/news-releases/truecar-acquires-dealerscience-300761873.html

SOURCE TrueCar, Inc.

Disclaimer

TrueCar Inc. published this content on 07 December 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 07 December 2018 17:16:03 UTC

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Financials ($)
Sales 2018 359 M
EBIT 2018 11,5 M
Net income 2018 -28,4 M
Finance 2018 207 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 2,25x
EV / Sales 2019 1,91x
Capitalization 1 015 M
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Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 12,2 $
Spread / Average Target 25%
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Managers
NameTitle
Victor Anthony Perry President, Chief Executive Officer & Director
Christopher W. Claus Chairman
John Pierantoni Senior VP, Chief Financial & Accounting Officer
Tommy McClung Chief Technology Officer & Executive VP
Ion Yadigaroglu Independent Director
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