TRADER to be acquired for $1.575-billion

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trader-logoU.S. private equity investment firm Thoma Bravo LLC has announced it will acquire TRADER, a Canadian provider of digital automotive marketplace and software solutions, for approximately $1.575-billion.

The transaction is subject to customary closing conditions and is expected to close by the fourth quarter of 2016.

“Thoma Bravo’s track record of success in working with and growing software solutions companies makes them the ideal partner for the next phase of TRADER’s growth. We look forward to working closely with them to continue strengthening TRADER’s market leading position,” said Sebastian Baldwin, President and CEO for TRADER, in a written release.

TRADER Corp.’s online properties, which include autoTRADER.ca, autoHEBDO.net and Autos.ca, attract 13 million visits per month and are used reguarly by more than 5,000 dealers, listing more than 450,000 vehicles, said TRADER.

The company also provides software solutions to dealers to help them make business, inventory and marketing decisions.

“We’re excited to collaborate with TRADER to expand its product portfolio organically and through strategic investments and acquisitions,” said Arvindh Kumar, a principal at Thoma Bravo.

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Canadian auto dealer