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Dealertrack acquiring VINtek for $53.4M

Dealertrack (NASDAQ: TRAK) has agreed to acquire VINtek, a provider of electronic lien and title, automotive collateral management, and automotive finance processing services. The transaction is for $53.4M in cash and is expected to close in Q4 2013. VINtek currently services more than 3000 banks, finance companies and credit unions in the US. Details of the financial impact on Dealertrack were not yet released, they will be discussed during Q3 earnings.