ARI Network Services, Inc. announced November 2 that it has acquired Auction123, Inc., a leading provider of software and services to help dealers in selected vertical markets manage and feed inventory information to online marketplaces to drive more sales and leads. Auction123 serves several vertical markets, including automotive, powersports, recreational vehicles and marine. Terms of the transaction were not disclosed.
“The acquisition of Auction123 will accelerate ARI’s growth in our existing vertical markets, introduces ARI into the automotive dealer market, and is consistent with our strategy to grow the business both organically and through strategic acquisitions,” said Roy W. Olivier, president and CEO, ARI. “We are excited about the opportunity to cross-sell our other products into Auction123’s base of more than 1,200 dealers.”
Auction123 will maintain its headquarters in Weston, Fla.
“We expect the Auction123 acquisition to generate incremental revenue of more than $3 million for the remainder of our fiscal 2017 and be accretive to adjusted EBITDA,” said ARI CFO William A. Nurthen.