ARI Network Services Inc. has acquired Auction123 Inc., a provider of software and services to help dealers in selected 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 ARIinto the automotive dealer market and is consistent with our strategy to grow the business both organically and through strategic acquisitions,” says ARI President and CEO Roy Olivier in a statement. Auction123 will maintain its headquarters in Weston, Fla.