KAR Global has acquired Auction Frontier, the pioneer of cloud-based auction simulcast solution Velocicast.
If that solution sounds familiar, it’s because Velocicast powers the Adesa Simulcast and Simulcast+ technologies everywhere, regardless of geography. The acquisition should help KAR Global accelerate future simulcast projects to improve marketplace speed, convenience, and real-time analytics for customers.
“Auction Frontier has rapidly grown Velocicast to become the industry gold standard for simulcast, and we are thrilled to welcome their incredibly talented team to our organization,” said Peter Kelly, CEO of KAR Global. “We have already demonstrated the power of this partnership by jointly developing Adesa Simulcast+ in 2020, the industry’s only fully-automated live-auction platform.”
Kelly said he looks forward to “supercharging” the next generation of digital auction technology for customers of both brands.
According to KAR Global, Auction Frontier’s Velocicast platform powers digital simulcast sales for more than 300 wholesale and retail auctions across North America and Australia. It includes an easy-to-use simulcast interface that allows both sellers and buyers to quickly and efficiently make bidding, buying and selling decisions, among other things.
“We’re thrilled to join the KAR Global family, and look forward to bringing even greater value to our customers through expanded capabilities, integrations and functionality on our Velocicast platform,” said Scott Blatter, President of Auction Frontier.
The partnership between KAR Global and Auction Frontier began in 2016. Adesa Simulcast was launched in 2019.