KAR Accelerates Mobility Strategy with Acquisition of STRATIM

CARMEL, Ind., Feb. 07, 2018 (GLOBE NEWSWIRE) -- KAR Auction Services, Inc. (NYSE:KAR), a global vehicle remarketing and technology solutions provider, announced the acquisition of mobility and fleet management software company STRATIM. The addition of STRATIM supplements KAR’s broad portfolio of wholesale used vehicle physical, online and digital auction marketplaces and ancillary service providers. The acquisition also expands the company’s presence into the rapidly growing market of on-demand car and ride sharing services, urban commute providers and autonomous vehicles.

“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,” said Jim Hallett, chairman and CEO of KAR. “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.”

San Francisco-based STRATIM was founded in 2016 by a team of technology innovators from Google, eBay and Trulia with decades of experience building platform and infrastructure technology. STRATIM’s software utilizes real-time data and predictive analytics to digitize fleet management and help mobility service providers streamline operations. Fleet owners can onboard, manage, service, dispatch and pay all their current vendors through STRATIM’s automated vendor management platform. STRATIM operates in more than 25 North American cities and has processed service transactions for many of the nation’s leading mobility service providers and automotive manufacturers.

“STRATIM enables automotive companies to succeed in the new age of use-based transportation,” said Sean Behr, STRATIM founder and president. “KAR shares our entrepreneurial spirit and has the resources to fuel our continued growth and expansion. We’re thrilled to join the KAR family and deliver technology and innovation that power our customers’ fleets.”

STRATIM will maintain its current headquarters in San Francisco, and will be part of KAR’s digital services group. Sean Behr assumes the role of STRATIM’s president.

“KAR is continuously scanning the automotive eco-system to identify solutions that modernize processes and enhance the customer experience,” said Don Gottwald, chief operating officer and chief strategy officer at KAR. “Integrating STRATIM’s fleet management technology into KAR’s platform will give our customers a cost-effective, end-to-end, data-driven solution for better managing fleet vehicle service and optimizing logistics.”

About KAR Auction Services
KAR Auction Services (NYSE:KAR) provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. KAR’s unique end-to-end platform supports whole car, salvage, financing, logistics and other ancillary and related services, including the sale of more than 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 110 countries. Headquartered in Carmel, Ind., KAR has approximately 17,800 employees across the United States, Canada, Mexico and the United Kingdom. www.karauctionservices.com.