OPENLANE, Inc. acquired ADESA Canada/TradeRev on June 20, 2023. The merger of ADESA Canada and TradeRev into the all-new consolidated OPENLANE Canada marketplace. As part of the transaction coast-to-coast network of vehicle logistics centres which offer inspections, reconditioning, mechanical services, storage and more will also rebrand to OPENLANE Canada. Existing ADESA Canada and TradeRev users will be migrated to the new OPENLANE Canada marketplace in phases starting immediately, with migration of all users expected to complete by early fourth quater of 2023.
OPENLANE, Inc. completed the acquisition of ADESA Canada/TradeRev on June 20, 2023.
OPENLANE, Inc. provides sellers and buyers across the global wholesale used vehicle industry with technology-driven remarketing solutions. It offers a digital marketplace for used vehicles, connecting sellers and buyers across North America and Europe. The Company's end-to-end platform supports whole car, financing, logistics and other ancillary and related services. The Companyâs segments include Marketplace and Finance. The Marketplace segment serves a domestic and international customer base through digital marketplaces for wholesale vehicles that allow the buyers to inspect and compare vehicles. Its marketplace offerings allow it to offer vehicles for sale from any location. Digital marketplace sales are initiated online and include OPENLANE US, OPENLANE Canada and OPENLANE Europe sales. The Finance segment provides short-term, inventory-secured financing, known as floorplan financing, primarily to independent dealer customers throughout the United States and Canada.
OPENLANE, INC. 
