“This acquisition adds a leading digital platform on the West Coast to our dealer-to-dealer segment—solidifying our competitive position and improving profitability across our dealer-to-dealer offerings,”
CARMEL, Ind. – Oct. 14, 2021 – KAR Auction Services, Inc., d/b/a/ KAR Global (NYSE: KAR), a leading operator of digital marketplaces for wholesale used vehicles, has completed the acquisition of CARWAVE Holdings LLC (“CARWAVE”) for $450 million in cash. The acquisition builds on KAR’s fast growth in the dealer-to-dealer segment, accelerates profitability, positions the company to achieve its long-term goals and enhances the company’s differentiated combination of digital marketplaces and physical network.
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