KAR completed the acquisition of CARWAVE for $450m.

KAR, a global vehicle remarketing and technology solutions provider, completed the acquisition of CARWAVE, an online dealership network and auction, for $450m. "This acquisition adds a leading digital platform on the West Coast to our dealer-to-dealer segment—solidifying our competitive position and improving profitability across our dealer-to-dealer offerings. With the addition of CARWAVE to our successful digital marketplaces—including ADESA and BacklotCars—as well as our broad network of vehicle logistics centers, we are able to meet the needs of dealers in any market at any time," Peter Kelly, KAR Global President.