Cobalt Group Adds Inventory Services
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The Cobalt Group Inc. Friday souped up its services to the automotive industry by acquiring IntegraLink Inc., a provider of advanced data extraction and reporting services, for approximately $3.6 million in cash and stock.
Cobalt (CBLT) currently provides a variety of Internet tools for car manufacturers and dealers such as Web development and hosting, data management and online car referral services. With the acquisition, the company said it wil be able to add automated data collection operations for its customers.
IntegraLink specializes in collecting, normalizing and enhancing service records, vehicle sales and inventory data, parts sales and inventory data.
"We can use the Internet to create tremendous value for our customers by aggregating service records, parts and vehicle sales and inventory data, and other information about dealership operations," said John Holt, co-chief executive officer of The Cobalt Group.