Detroit Bureau on Twitter

Posts Tagged ‘truecar acquires alg’

TrueCar Acquiring Industry Bible ALG

Deal another move to make new web service an industry powerhouse.

by on Aug.22, 2011

TrueCar is acquiring ALG for $83 million.

Internet start-up will invest $83 million to acquire ALG, a data service that is the gold standard for the automotive industry when it comes to establishing such things as what a car is expected to be worth at trade-in or when its lease expires.

The acquisition of what was originally known as the Automotive Lease Guide is expected to significantly enhance the capabilities and credibility of TrueCar, an upstart website and service that has challenged the traditional online method of both providing consumers with automotive pricing and helping dealers and manufacturers connect with buyers in the final stage of picking a new vehicle.

Subscribe Now! It's Free!

“We’re committed, first and foremost, to transparency when it comes to accurate market data,” said TrueCar CEO and founder Scott Painter, and he expects that the extensive research capabilities of ALG will continue to improve TrueCar’s own services.