KAR Global makes digital waves by acquiring BacklotCars

KAR adds another piece to its digital marketplace offerings

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KAR Global announced a definitive agreement to acquire BacklotCars Inc. According to a KAR Global, the deal is still subject to certain regulatory approvals and other customary closing conditions before it can be made official. The purchase price of the acquisition is totaled at $425 million with the pending transaction set to close year-end pending legal regulatory approvals. BacklotCars is an online dealer-to-dealer wholesale platform, offering a 24-7 “bid-ask” marketplace and comprehensive vehicle inspections. The company is headquartered in Kansas City and serves dealers in 46 states across the United States. The company’s technology capabilities simplify digital transactions and enhance…

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