ABC Nashville, an auto auction company in Old Hickory, has been acquired by Indiana-based Adesa Inc.
“I have always considered Mike Hockett, CEO of ABC Auctions, to be a visionary with a knack for choosing locations in strategic markets that are beneficial to dealers and to commercial sellers,” says Adesa President and CEO Jim Hallett in […]
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Adesa buys ABC Nashville
CARMEL, Ind., - ADESA announced today that it has acquired ABC Minneapolis in Dayton, Minnesota, and ABC Nashville in Old Hickory, Tennessee.
Both used car auctions are located in major metropolitan areas, which attracted ADESA to the sites. “I have always considered Mike Hockett, CEO of ABC Auctions, to be a visionary with a knack for […]
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ADESA Acquires Two Used Vehicle Auctions From ABC Auctions
CARMEL, Ind.- ADESA, Inc. today announced that it plans to acquire Live Global Bid, Inc. (“LGB”), a leading provider of Internet-based auction software and services, on June 30, 2008. The LGB technology allows auction houses to broadcast their auctions through simultaneous audio and video feeds to all participating Internet users from any location.
LGB, which will be renamed LiveBlock Auctions International, Inc., will continue to provide services to LGB’s current customers and to other independent auctions in the vehicle re-marketing industry. ADESA has used LGB’s bidding product under the name “LiveBlock” since 2004 and has owned approximately 18 percent of LGB on a fully diluted basis since 2005.
Jim Hallett, president and chief executive officer of ADESA, stated, “LGB has been instrumental in helping ADESA develop and deploy our LiveBlock product, and we are very excited to have them join ADESA.” Hallett further added, “This acquisition demonstrates ADESA’s full commitment to enhancing and expanding its e-business product line, which includes LiveBlock, DealerBlock, ADESA Market Guide, Notify Me and numerous private-label programs.”
John Nordin, KAR Holdings, Inc.’s executive vice president and chief information officer, stated, “I am looking forward to working with a very talented group of people in developing the next generation of Internet auction products for the vehicle remarketing industry.” Nordin further stated, “ADESA intends to continue to provide the same high level of service that LGB has provided its customers in the past.”
LGB was founded in 1999 by Barry White, LGB’s former chief executive officer. White stated, “We’ve been fortunate to run a successful technology business in support of the vehicle remarketing industry for the past nine years. ADESA has been a valued customer and partner during that time, and we are thrilled to know that our legacy will continue under ADESA’s strong management.”
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ADESA to Acquire Auction Software Company, Live Global Bid
CARMEL, Ind. - ADESA, Inc. today announced that it plans to acquire Live Global Bid, Inc. (“LGB”), a leading provider of Internet-based auction software and services, on June 30, 2008. The LGB technology allows auction houses to broadcast their auctions through simultaneous audio and video feeds to all participating Internet users from any location.
LGB, which […]
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ADESA to Acquire Internet-Based Auction Software Company, Live Global Bid
