KAR Auction Services Grows Tech Portfolio
Hallett says KAR and STRATIM's platforms will complement each other as the way people get around evolves.
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowCarmel-based KAR Auction Services Inc. (NYSE: KAR), which is in the midst of building an $80 million global headquarters in the Hamilton County city, has announced another acquisition. The vehicle remarketer and technology provider says its addition of San Francisco-based software company STRATIM will boost its presence in on-demand car and ride sharing, urban commuting and autonomous vehicle markets.
STRATIM, which was launched in 2016 by a team with experience at companies including Google, eBay and Trulia, develops fleet management software that uses real-time data and predictive analytics for mobility service providers. KAR Chief Executive Officer Jim Hallett says "as the automotive industry continues to transform, we’re making meaningful investments in technology, data and analytics to meet the evolving needs of our customers and expand market opportunities. STRATIM’s first-of-its kind mobility management solution is already supporting the fleets of some of our commercial customers, and this is a natural extension of those relationships. We look forward to delivering integrated products and services through STRATIM and fortifying our presence in the mobility space."
STRATIM is currently used in over 25 North American cities and KAR says it has worked with many of the leading mobility service providers and automotive manufacturers in the U.S.
You can find out more about the impact of the acquisition in the INside Edge e-newsletter.