The agreement is closely aligned with KAR’s digital strategy, and will allow KAR to focus on its portfolio of digital marketplaces.
Member auctions will access the training program that helps KAR and its nearly 10,000 employees safeguard the data, information and business interests of their customers.
OPENLANE iQ provides data analytics and comprehensive technology solutions for more than 40 upstream brand marketplaces.
The deal builds on KAR's growth in the dealer-to-dealer segment, enhances its profile in the fragmented wholesale used vehicle market, and accelerates the company’s overall move to digital auction marketplaces.
The data is available by subscription on the autoniq app and showcases information on similar year, make, and model vehicles sold at auction.
KAR expects to be immediately profitable across its North American dealer-to-dealer platforms while enhancing its position in the highly fragmented wholesale used vehicle market.
Commentary: A deluge in demand and a drought in supply are roiling the market.
Velocicast technology fortifies simulcast capabilities and enhances customer experience.
Ravin AI offers artificial intelligence solutions for vehicle inspections for diverse fleet, insurance and remarketing customers around the world.
KAR Auction Services has announced that Peter Kelly will assume the role of CEO of the company effective April 1, 2021.
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