KAR Auction Services, Inc., an operator of digital marketplaces for wholesale used vehicles, announced on May 4 the acquisition of Auction Frontier, the pioneer of industry-leading, cloud-based auction simulcast solution Velocicast, according to a KAR Global press release.
The acquisition reflects the importance of KAR’s ADESA Simulcast and Simulcast+ technologies — both of which are powered by Velocicast — and will accelerate future simulcast innovations to enhance marketplace speed, convenience, and real-time analytics for customers.
“For over a decade, KAR has led the digital transformation of the remarketing industry, deploying powerful technologies that provide our customers with the smartest, fastest, and most intuitive marketplaces for selling and sourcing inventory,” said Peter Kelly, CEO of KAR Global, in the press release. “Auction Frontier has rapidly grown Velocicast to become the industry gold standard for simulcast. We have already demonstrated the power of this partnership by jointly developing ADESA Simulcast+ in 2020, the industry’s only fully-automated live-auction platform.”
Auction Frontier’s Velocicast platform powers digital simulcast sales for more than 300 wholesale and retail auctions across North America and Australia. The technology offers an easy-to-use simulcast interface that enables both sellers and buyers to quickly and efficiently make bidding, buying, and selling decisions. Enhanced displays provide instant access to detailed condition reports, photos, and valuation tools for vehicles across all sale lanes — meaning dealers can research vehicles, record notes to the vehicle details page, and make bidding and buying decisions all through one seamlessly integrated interface. Sellers can monitor bidding activity across all lanes throughout a sale, conveniently rep vehicles, and view enhanced analytics that enables consignors to more confidently adapt sale strategy to real-time market dynamics.
Scott Blatter, president of Auction Frontier, said, “Since inception, our focus at Auction Frontier has been on building a simulcast ‘done right’ solution— giving buyers and sellers everything they need to be successful right at their fingertips. And now, backed by the full power of KAR’s diverse portfolio of marketplace technologies, services, and solutions, we’ll be able to rapidly accelerate future innovation.”
KAR first partnered with Auction Frontier in 2016, launching ADESA Simulcast in 2019. Auction Frontier was founded in 2015.
Originally posted on Vehicle Remarketing