KAR’s $2.2B ADESA sale expected to close within days
The sale of ADESA to Arizona-based Carvana, which KAR announced in February, is part of KAR’s ongoing shift away from physical auto auctions toward digital platforms and tools.
KAR Auction Services
Articles
KAR Auction CEO is taking on Indy’s mobility problem
Although Jim Hallett runs a business that sold 5.5 million used vehicles in 120 countries last year, he also knows firsthand what life is like without a car.
2018 Indiana 100: KAR accelerating plan to digitize auto auction biz
“People are still going to go to physical auctions, people are still going to use wholesalers, but we see this as the wave of the future,” says TradeRev President Becca Polak.
Auto-auction powerhouse KAR investing heavily in digital transformation
The used-car auction business might sound like a low-tech industry, and one destined to stay that way. But KAR’s executives think otherwise.
KAR Auction sees higher profit on big rise in revenue
The used and salvaged vehicle auctioneer posted revenue of $771.8 million in the second quarter, up 17 percent from a year ago.
For CEO, auction firm is ‘mission of passion’
Fired in 2005 as CEO of Adesa Inc., a vehicle-auction company based in Carmel, James Hallett later engineered a buyout that put him back in the driver’s seat of the company, now known as KAR Auction Services.
CTO of the Year: Peter Kelly
Peter Kelly launched an online vehicle auction company and then stuck with the firm that eventually bought it. Today, he’s the chief technology officer for KAR Auction Services and serves as president of the company’s digital services division, where he’s led mobile app development and invested in high-quality digital photography and better digital-condition reports.
Indy’s top 11 acquisition deals, before Anthem-Cigna
Anthem’s $54 billion bid for rival insurer Cigna is twice the size of the next-largest acquisition in the Indianapolis area, which occurred nearly a decade ago.
PROXY CORNER: KAR Auction Services Inc.
KAR Auction Services Inc., 13085 Hamilton Crossing Blvd., Carmel 46032, is the holding company for ADESA Inc., which operates used-vehicle auctions at 67 locations; Insurance Auto Auctions Inc., which operates salvage auctions at 163 locations; and Automotive Finance Corp., which provides floorplan financing at 104 locations.
Even salvage auto buyers now have an app to make purchases easier
Bids have been taken via smart-phone applications for more than a year. Now a unit of Carmel-based KAR Auction Services has introduced an app to make paying easier.
KAR Auction Services declares first dividend
Carmel-based KAR Auction Services Inc. is declaring its first quarterly dividend since going public in December 2009.
KAR Auction revenue up, profit down
Carmel-based KAR Auction Services Inc. saw revenue climb but profit shrink in the first quarter, the company said Monday.
KAR Auction reports higher earnings, profit
Carmel-based KAR Auction Services Inc. on Monday said it doubled its profit in the fourth quarter compared to the same quarter of the previous year.
Indiana deals ranged upward of $800 million
Mergers and acquisitions in 2011 ranged from WellPoint’s acquisition of CareMore to a trucking company merger.
KAR Auctions reports $14M quarterly loss
Carmel-based used and salvaged vehicle auctioneer KAR Auction Services, Inc. said it lost $14.3 million in the second quarter due to the early payoff of debt.