TRADER Corporation acquires Collateral Management Solutions from Teranet
On June 24, 2024, TRADER Corporation (“Trader”) announced that it acquired Collateral Management Solutions Inc. (“CMS”) from the Teranet group of companies. CMS is the primary provider of lien and registration services, recovery services, and insolvency management solutions to Canadian lenders.
The strategic acquisition is intended to enhance the business' financial technology offerings as an expansion of Dealertrack Canada, its lending platform that offers complete, secure and connected auto financing solutions for lenders and dealers for the automotive, commercial, and recreational industries.
Teranet employees currently servicing CMS will join the Dealertrack Canada team, ensuring no disruption to daily customer operations.
Further information can be found on Canada Newswire’s website.
TRADER Corporation is a trusted Canadian leader in online media, dealership and OEM software, as well as automotive finance services. It is comprised of AutoTrader.ca™, AutoSync and Dealertrack.
Teranet is Canada's leader in the delivery and transformation of statutory registry services, with extensive expertise in land and commercial registries. It also provides insightful property intelligence and data solutions to thousands of customers in the real estate, financial services, government, utilities, and legal markets.