Add-on Acquisition • Internet Software and Services

Openlane Acquires CarsOnTheWeb

On November 28, 2018, Openlane acquired internet software and services company CarsOnTheWeb for 91M EUR

Acquisition Context
  • This is Openlane’s 3rd transaction in the Internet Software and Services sector.
  • This is Openlane’s 3rd largest (disclosed) transaction.
  • This is Openlane’s 1st transaction in Belgium.

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M&A Deal Summary

Date November 28, 2018
Target CarsOnTheWeb
Sector Internet Software and Services
Buyer(s) Openlane
Deal Type Add-on Acquisition
Deal Value 91M EUR

Target Company

CarsOnTheWeb

Tienen, Belgium
Ecadis NV is an online auction company serving the wholesale vehicle sector in Continental Europe that seamlessly connects OEMs, fleet owners, wholesalers, and dealers. Ecadis is based in Tienen, Belgium.
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Buyer Overview 1

Buyer

Openlane

Carmel, Indiana, United States

Category Company
Founded 2006
Sector Business Services
Employees4,080
Revenue 1.8B USD (2024)
DESCRIPTION

Openlane provides sellers and buyers across the global wholesale used-vehicle industry with innovative, technology-driven remarketing solutions. Openlane’s unique end-to-end platform supports whole car, financing, logistics, and other ancillary and related services. Its integrated physical, online and mobile marketplaces reduce risk, improve transparency, and streamline transactions for customers in more than 80 countries. Openlane was formed in 2006 and is headquartered in Carmel, Indiana.


Deal Context for Buyer #
Overall 13 of 17
Sector: Internet Software and Services 3 of 6
Type: Add-on Acquisition 10 of 13
Country: Belgium 1 of 1
Year: 2018 3 of 3
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 Clearplan

Sparks, Nevada, United States

Clearplan, Inc. is a digital platform that provides recovery agents, drivers, forwarders and automotive lenders a centralized, mobile, cloud-based hub for repossession workflow and logistics management. Clearplan, Inc. was founded in 2014 and is based in Sparks, Nevada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-28 IAA

Westchester, Illinois, United States

IAA is a provider of automotive salvage auction and claims processing services. The company's platform facilitates the marketing and sale of total loss, damaged, and low-value vehicles for a range of sellers. IAA was founded in 1982 and is based in Westchester, Illinois.

Sell -