Wednesday, May 6, 2015

DealerSocket Buys AutoStar Solutions

San Clemente-based auto dealership software developer DealerSocket has acquired fellow automotive dealer management software company AutoStar Solutions, according to the company. Financial terms of the buy were not disclosed. AutoStar Solutions says it develops dealer management software for the "Buy Here Pay Here (BHPH)" market. The software is used for finance, wholesale, and leasing management. Buy Here Pay Here dealers operate in a controversial segment of the car buying market, offering up financing to consumer who cannot qualify for financing and loans anywhere else. DealerSocket is backed by private equity investor Vista Equity Partners.

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