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Dealertrack (TRAK) to Acquire Tag Agency Casey & Casey NPS

February 25, 2013 4:03 PM EST Send to a Friend
Dealertrack Technologies (Nasdaq: TRAK) today announced that it has entered into an agreement to acquire Casey & Casey NPS, Inc. (d/b/a Auto Title Express), Louisiana’s first electronic public license tag agency, and the largest provider of electronic vehicle registration, lien and title services, among other related services, in the state. Total consideration for the transaction is expected to be $21.2 million in cash, subject to standard purchase price adjustments.

Established in 1957, Casey & Casey has grown from a small Louisiana notary office serving local car dealerships to a major technology innovator and advocate for the state’s use of online registration and titling. In addition, the company offers a number of processing services, including electronic registration, lien and titling services, VIN lookup, temporary tags, Fast Title and the issuance, renewal and transfer of license plates.

The transaction is expected to close in the second quarter of 2013.




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