DealerTrack Files Suit Against RouteOne in Auto Finance Platform Dispute
MELVILLE, NY - DealerTrack, Inc., a technology services company enabling finance transactions between automobile dealers and financing sources through its online DealerTrack™ platform, today announced that it has filed a patent infringement lawsuit against RouteOne LLC, a joint venture of DaimlerChrysler Services L.L.C., Ford Motor Credit Corporation, General Motors Acceptance Corporation and Toyota Financial Services. RouteOne launched a Web-based credit application and routing system in the fourth quarter of 2003.
The complaint was filed on January 28, 2004, in the United States District Court, Eastern District of New York, and asks, among other things, that the court enjoin RouteOne from infringing two patents held by DealerTrack, Inc. These patents cover a routing system, method and computer program product that support a number of processes related to automated credit application analysis and decisioning.
"Since its inception, DealerTrack has been committed to significantly improving the automotive financing process for all industry stakeholders," said Mark O'Neil, president and CEO of DealerTrack, Inc. "As an innovator in this industry, we have invested considerable time, energy and capital into developing technology that speeds the vital transactions between automotive dealers and their financing sources. And given this investment, it is critical to both our company and the industry as a whole that we protect against this kind of infringement."
The complaint outlines RouteOne's infringement of both patents through the development, launch and operation of its Web-based credit application management system. The complaint also notes that RouteOne has induced financial institutions and others in the automotive finance industry to infringe both DealerTrack patents - through these parties' use of, or integration with, the RouteOne system.
"We recognize the importance of competition for our industry, as well as the vital role played by the captive finance organizations," said O'Neil. "While we will be vigilant in protecting the integrity of our intellectual property, DealerTrack will also remain equally committed to providing an independent auto finance platform open to all industry participants."
About DealerTrack, Inc.
With more than 22,000 dealers and over 60 financing sources currently connected, DealerTrack is North America's premier independent Web-based platform that automates and accelerates the entire automotive financing process. The DealerTrack suite of products includes credit application processing, credit report access, electronic contracting, desking tools and comprehensive activity reporting features - all in one easy-to-use, integrated solution. Additionally, the DealerTrack platform features integration with top dealer management systems for credit application processing, credit report access and electronic contracting. More information on DealerTrack is available at www.dealertrack.com.
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