DealerTrack Holdings (TRAK) announced that it has entered into a definitive deal for it to buy Arkona for $1.38 per share of common stock. The company noted that the total acquisition price of the deal is about $58.9 million.The company stated that this purchase would bring together it, a leading provider of on-demand software and data solutions for the automotive retail industry, and Arkona, a leading provider of on-demand dealer management systems for automotive dealerships.The company further stated that the deal has been prepared as a cash tender offer for 100% of Arkona's outstanding capital stock. The company noted that it intends to commence the offer on or about May 1, 2007. The company said that the deal has been unanimously approved by each company's board of directors, and Arkona stockholders who own about 30% of Arkona's outstanding shares have committed to tender their shares in the tender offer.
For comments and feedback contact: editorial@rttnews.com
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.