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RCAU Break-out!!! Now a huge run looks imminent. $$NEWS$$ > Buy-out / Merger possibilities.
RocketCity (RCAU) Explores Opportunities to Sell Its Organization to Automotive Industry Tycoons. Founders of CARad, an eBay Company, Retained to Lead Campaign. Wednesday June 27, 7:30 am ET
ORLANDO, Fla.--(BUSINESS WIRE)--Rocket City Automotive Group, Inc. (PINK SHEETS: RCAU - News), announced today that it is presently exploring multiple avenues to sell the RCAU organization to automotive industry tycoons. Russell Chaney and Shane Rapp, founders of CARad, an organization purchased by eBay Motors in March, 2003, have been retained to guide RCAU and lead the overall campaign. ADVERTISEMENT
CARad, an online automotive software solutions company operating as a preferred solutions provider for eBay Motors, has provided dealers nationwide with vehicle listing solutions for eBay Motors for over 5 years. "The product line offered by CARad was nearly identical to that of RCAU's," stated Jeff Roman, CEO of RCAU. On March 3, 2003, CARad was purchased by eBay Motors to integrate an already booming vehicle listing software directly into the eBay Motors listing tool.
Russell Chaney, Co-Founder of CARad, stated:
"It is our professional opinion that the Rocket City Automotive Group is a prime candidate for a potential buy-out by the industry's leading organizations. The software platform created by RCAU has made remarkable progress and continues to show its tremendous impact in the online automotive market. We intend to use our experience gained through the sale of our company, and our vast knowledge of the industry, to aid RCAU in its preparation and negotiations of a proposed acquisition."
CARad founders Russell Chaney and Shane Rapp, through their extensive knowledge on positioning an organization to become an appetizing purchase opportunity for large industry players such as eBay, AutoTrader and Google, will guide RCAU and its personnel to properly position its organization both financially and in the marketplace to provide an enticing opportunity to interested buyers.
"Although we have recently entertained numerous merger opportunities, it is our belief that the RCAU organization has tremendous buyout and acquirable appeal. By estimated numbers, RCAU presently represents over 25 percent of all vehicles listed for sale on eBay Motors, which by opinion would make for an apparently obvious purchase prospect for eBay Motors. Partnering with the founders of a solutions provider company that has been purchased by eBay was the most logical and tactful choice to make aggressive moves in this campaign," stated Jeff Roman, CEO of Rocket City Automotive Group.
About Rocket City Automotive Group, Inc.:
CompleteAuto, a subsidiary of Rocket City Automotive Group, Inc. (PINK SHEETS: RCAU - News) is an eBay Motors Preferred Services Provider and offers proprietary software, personnel and design solutions to hundreds of automotive dealerships around the country. CompleteAuto is a wholly owned subsidiary of RocketCity which was formed to acquire, manage, supervise and operate corporations specializing in auction services, eCommerce, software development and retail automotive operations.
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