AutoTrader.com Acquires HomeNet

AutoTrader.com, a portfolio company of Providence Equity Partners and Kleiner Perkins Caufield & Byers, has completed its acquisition of HomeNet Automotive. Weil, Gotshal & Manges served as legal counsel to Providence Equity on the add-on. AutoTrader.com operates an automotive marketplace and consumer information website, while HomeNet provides online inventory management and merchandising solutions for the automotive retail industry. Providence Equity acquired a 25% stake in AutoTrader.com back in June.