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ADESA’s Parent Company KAR Auction Services Completes OPENLANE Acquisition

October 03, 2011

CARMEL, IN - KAR Auction Services, Inc., parent company of ADESA, announced on Oct. 3 that it had successfully completed the acquisition of OPENLANE, Inc.

"Finalizing the acquisition of OPENLANE is great news for our employees, customers and other stakeholders and we’re very excited to be able to move forward today as a unified company,” said Jim Hallett, CEO of KAR. “Technology has been an essential part of my vision since becoming CEO of KAR and the OPENLANE acquisition will further enhance KAR’s well-developed online service offerings. The positive feedback that we’re hearing from customers is absolutely energizing and I believe that we are well positioned to continue to provide the comprehensive end-to-end remarketing solutions that our customers demand."

“I am delighted to see the transaction successfully closed and for OPENLANE to be part of KAR Auction Services,” said Peter Kelly, CEO and president of OPENLANE. “OPENLANE’s online capabilities complement KAR’s existing dealer consignment and e-Business initiatives and uniquely position us in the marketplace to provide our customers with a ‘one-stop’ shop for all of their automotive remarketing needs.”

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