CARMEL, Ind., Sept. 30, 2019 /PRNewswire/ -- KAR Auction
Services Inc. (NYSE: KAR) announces that it has rebranded and will
begin doing business as "KAR Global." The move comes after several
years of rapid geographic expansion across North America and Europe and the company's acquisition and
development of new technology and data-driven products, services
and capabilities. Headquartered in the heart of the Midwest's
innovation and technology corridor, KAR Global has more than 200
operating locations in ten countries and customers in over 75
countries. KAR Global will continue to trade on the New York Stock
Exchange under the ticker symbol "KAR."
"At KAR, we have a fast, fearless and entrepreneurial culture,
and we've been pioneers in the auction business for decades," said
Jim Hallett, chairman and CEO of KAR
Global. "But we're a lot more than just 'auction services.' We're
rethinking and reimagining remarketing for our diverse sellers and
buyers across the automotive sector. These global customers want
global solutions — and that's what KAR Global delivers."
Over the past several years, KAR Global has made a number of
high-profile, strategic acquisitions that accelerated the company's
digital transformation. These include STRATIM's digital fleet
management platform, TradeRev's real-time digital auction
marketplace and the data analytics engine at DRIVIN that powers KAR
Global's pricing insights, vehicle recommendations and portfolio
management solutions. Additionally, the 2019 acquisition of
CarsOnTheWeb, recently rebranded ADESA Europe, gave KAR Global a
strong foundation across the major European automotive markets and
a platform to deploy the company's other capabilities, such as
financing and logistics.
"KAR Global is committed to delivering a unified, seamless and
simplified customer experience," said Peter
Kelly, president of KAR Global. "And to do this, we're
combining our data, technology and industry expertise and
leveraging the very best from across our geographies and brands. By
delivering more comprehensive and integrated solutions, we're
helping our customers make the best remarketing decisions possible
and giving them the flexibility to buy and sell anytime, anywhere,
on any channel."
Additional details on the company can be found on the all-new
KAR Global website, which was launched earlier today at
www.KARglobal.com. The highly interactive site features news,
videos and stories from across KAR Global as well as a media center
and a section dedicated to investor-facing information. KAR
Global's new "K" logo, featured prominently on the site, was
designed to depict a race car driver as a nod to the company's fast
culture and the racing heritage of its Indianapolis-area headquarters.
"KAR is a big company, but we're proud to think, innovate and
operate at start-up speed," said Tobin
Richer, senior vice president of marketing and
communications at KAR Global. "Our new logo reflects the spirit and
drive of our employees and our passion for the car business. It
also signals to our customers that we'll continue accelerating,
pushing the envelope and leading the change in our industry."
KAR
Contacts
|
|
Media
Inquiries:
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Analyst
Inquiries:
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Gene Rodriguez
Miller
|
Mike
Eliason
|
(317)
343-5243
|
(317)
249-4559
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gene.rodriguez@karauctionservices.com
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mike.eliason@karauctionservices.com
|
About KAR
KAR Auction Services Inc. (NYSE: KAR), known
as KAR Global, provides sellers and buyers across the global
wholesale used vehicle industry with innovative, technology-driven
remarketing solutions. KAR Global's unique end-to-end platform
supports whole car, salvage, financing, logistics and other
ancillary and related services, including the sale of nearly 3.5
million units valued at over $40
billion through our auctions. Our integrated physical,
online and mobile marketplaces reduce risk, improve transparency
and streamline transactions for customers in more than 70
countries. Headquartered in Carmel,
Indiana, KAR Global has approximately 15,000 employees
across the United States,
Canada, Mexico, U.K. and Europe. For more information, go to
www.KARglobal.com. For the latest KAR Global news, follow us on
Twitter @KARspeaks.
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SOURCE KAR Auction Services, Inc.