Hallett: Acquisition Opens ‘Whole New World’ to KAR

The chief executive officer of Carmel-based KAR Auction Services Inc. (NYSE: KAR) says the acquisition of Belgium-based CarsOnTheWeb continues KAR’s transformation into a global technology company. Jim Hallett says the deal for the online auction company also ensures a "strong international presence as we continue to grow beyond North America." KAR already has a presence in the United Kingdom after acquiring two UK-based companies over the last few years.