Internet car auctioning firm AutoTradeCenter.com Inc., Scottsdale, AZ, has merged with Walden Remarketing Services Inc. The combined companies will keep the name AutoTradeCenter.com and will operate Walden’s business as a separate division.
AutoTradeCenter.com will issue restricted common stock, cash, and in notes to the shareholders of Walden. Further terms were not disclosed.
The merger will reportedly combine Walden’s remarketing contacts with large automotive manufacturers and AutoTradeCenter.com’s online wholesale service, creating one of the largest internet-based automotive resale companies in the industry.
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