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Dealer.com sells 20 percent of company for $35M to Montreal media company
Fri Jan 23 2009
Related Company: Dealer.com, Inc.
MONTREAL, QUEBEC--(Marketwire - Jan. 20, 2009) - Trader Corporation (Trader), the vertical media business of Yellow Pages Income Fund (TSX:YLO.UN), announced today it has entered into a strategic agreement with Burlington, Vermont-based Dealer.com (www.Dealer.com) that will deliver a suite of marketing technology solutions to Canada's new and used vehicle industry.
Trader and Dealer.com have signed a long-term, exclusive commercial agreement making Dealer.com's web solutions available to Trader's extensive customer base in Canada served under its AutoTraderTM brand. Concurrent with the commercial agreement, Trader will also take a 20 per cent equity interest in Dealer.com for US$35 million, with the option to increase its ownership in the privately held company over time ...
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