CARMEL, Ind. –

KAR Auction Services revealed late Monday afternoon that its deal to buy OPENLANE has officially closed. The acquisition — which was announced in August — is now final.

“Finalizing the acquisition of OPENLANE is great news for our employees, customers and other stakeholders, and we’re very excited to be able to move forward today as a unified company,” KAR chief executive officer Jim Hallett said.

“Technology has been an essential part of my vision since becoming CEO of KAR, and the OPENLANE acquisition will further enhance KAR’s well developed online service offerings,” he continued. “The positive feedback that we’re hearing from customers is absolutely energizing, and I believe that we are well positioned to continue to provide the comprehensive end-to-end remarketing solutions that our customers demand.”

OPENLANE CEO and president Peter Kelly added: “I am delighted to see the transaction successfully closed and for OPENLANE to be part of KAR Auction Services. OPENLANE’s online capabilities complement KAR’s existing dealer consignment and e-Business initiatives and uniquely position us in the marketplace to provide our customers with a ‘one-stop’ shop for all of their automotive remarketing needs.”