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KAR Steps Up Vehicle Valuation Capabilities in Online Auction Platform

KAR Auction Services has plans in motion to make online remarketing platform Openlane accessible on any device and to incorporate more data and analytics into the system, newly appointed president Peter Kelly told AFN. The revamp is slated to be completed by yearend. “We want to improve the user experience to more modern interfaces that don’t only work on desktops but […]

European Purchase Positions KAR to Boost Auction Tech

KAR Auction Services’ plan to acquire Belgium-based counterpart CarsOnTheWeb (COTW) will position the U.S. company to compete in the international remarketing arena. It is also likely to spark technology enhancements for the combined entity, said Robert W. Baird & Co. analyst Craig Kennison. The $103 million deal — slated to close in the first quarter […]

KAR Auction Bolsters Tech Offerings With Acquisition of Clearplan

KAR Auction Services is tapping into technology to better its operations with its acquisition this week of Clearplan. Clearplan, a Reno, Nev.-based company that offers a digital hub for repossession workflow management, logistics, and reporting. The digital platform connects thousands of recovery agents and lenders while enabling real-time communication to more efficiently list, log, and […]

Kar Expands Credit Facility, Acquires Brasher’s

KAR Auction Services Inc. upped its credit facility with a “syn­dicate of lenders” to $550 million, from $250 million, to facilitate the acquisition of Brasher’s Auto Auctions, according to an 8-K filed Thursday with the Securities and Exchange Commission. The news about the Brasher’s acquisition also came in on Thursday. KAR subsidiary ADESA Inc. bought […]