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Openlane Inc(KAR-N)

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KAR Global to Rebrand as OPENLANE

PR Newswire - Tue May 2, 2023

New Brand to Unite Marketplace Brands and Simplify Customer Experience

CARMEL, Ind., May 2, 2023 /PRNewswire/ -- KAR Auction Services, Inc. d/b/a KAR Global (NYSE: KAR) announces it is rebranding to OPENLANE. The change reflects the company's transformation to a more asset-light, digital marketplace company and signals a new simplified, customer-first approach to used vehicle remarketing. OPENLANE will serve as both the parent company brand and the go-to-market brand for the company's digital marketplaces in the US, Canada and Europe. Consolidating platforms, offerings and operations into OPENLANE will help focus the company's strategy and investments, accelerate innovation and simplify the overall customer experience. The company's corporate name will change to OPENLANE, Inc. effective May 15, 2023. The company's common stock will continue trading on the New York Stock Exchange under the ticker symbol "KAR."


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