KAR Deal Targets Rapidly-Growing Markets

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Hallett says new tech platforms strengthen KAR's global reach. Hallett says new tech platforms strengthen KAR's global reach.
CARMEL -

Carmel-based KAR Auction Services Inc. (NYSE: KAR) Chief Executive Officer Jim Hallett says the company's latest acquisition puts it in a leadership position in the mobility space, which he says is moving "very, very quickly in North America." The company has acquired San Francisco-based STRATIM, which develops fleet management software for the on-demand car, ride sharing and autonomous vehicle markets. He says the deal shows KAR, which is building an $80 million global headquarters in Carmel, is "very much a technology company."

During an interview with Inside INdiana Business Multi-Media Journalist Mary-Rachel Redman, Hallett said new tech platforms strengthen KAR's global reach.

STRATIM was launched by tech leaders from companies including Google, eBay and Trulia. The company's fleet management platform uses real-time data and predictive analytics to help mobility service providers oversee their operations. The technology is used in more than 25 North American cities. Hallett says many of KAR's commercial customers already use the platform.

In September, KAR announced plans for a new $80 million global headquarters in Carmel. The company says the move will result in 400 new jobs by 2020. The 13-acre site will ultimately house about 1,500 workers. KAR has more than 17,000 associates throughout the world, including nearly 1,600 in Indiana. The company plans to move into the new headquarters in the second half of 2019.

Mary-Rachel Redman will have more on the story this weekend on Inside INdiana Business With Gerry Dick.

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