Centrro, Inc., a vertical search engine finding personal financial products, Wednesday said it acquired a specialty finance and consumer service provider BarNone, Inc. from First Advantage Corp. (FADV). However, the terms of the acquisition, finalized on August 21, 2009, were not disclosed.
Ike Eze, president and chief executive officer of Centrro said, "As we looked at building out this vertical, we recognized that auto dealers would be an important strategic component. The acquisition of BarNone, along with its recognizable brand and strong dealer network, allows Centrro to further expand our presence in the automotive market."
Commenting on the acquisition, Centrro also said it will be leveraging their proven experience along with the acquisition to position BarNone as a brand market leader in the automotive marketing space.
Founded in 1995, BarNone supports lead generation for automotive dealerships, as well as a 24-hour call center and Web based application capability. BarNone has been affected by the economic downturn.
Eric Rumsey, former president of BarNone and current president of First Advantage CREDCO said, "Under the new arrangement, First Advantage CREDCO will continue to provide CREDCO credit reports and other consumer information solutions to participating BarNone dealers."
FADV is currently trading at $18.85, up $0.49 or 2.67%, on the Nasdaq.
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