Commercial Services and Supplies
Company Overview of OPENLANE, Inc.
OPENLANE, Inc. operates as an online auction company for automotive dealers to buy and sell wholesale vehicles in North America. The company offers auto remarketing solutions to auto manufacturers, captive finance companies, lease and daily rental companies, financial institutions, and wholesale auto auctions. It also provides access to the freshest variety of off-lease, fleet, rental, repo, and dealer-consigned vehicles; consignor information; Internet-based transportation solution that allow shippers and carriers to come together online to review price quotes, delivery times, available loads, and transport listings; and recovery and remarketing services. It serves franchise and independent...
2200 Bridge Parkway
Redwood City, CA 94065
Founded in 1997
Key Executives for OPENLANE, Inc.
Chief Executive Officer of Recovery Database Network and President of Recovery Database Network
Senior Vice President of Transportation & Logistics-Us & Canada
Compensation as of Fiscal Year 2012.
OPENLANE, Inc. Key Developments
Dominion Dealer Solutions Announces Integration of Openlane, Inc.'s Wholesale Online Auction Listing Data into the Dominion Inventory Suite
Feb 3 12
Dominion Dealer Solutions announced the integration of Openlane, Inc.'s wholesale online auction listing data into the Dominion Inventory suite. This integration enables dealers to quickly and efficiently source and stock wholesale auction inventory from OPENLANE using the sourcing tools in Dominion Inventory. The integration between Dominion Dealer Solutions and OPENLANE will provide mutual customers with easy access to source and post inventory within the Dominion Inventory application. OPENLANE will deliver wholesale online auction listings to Dealer Solutions' inventory management application, and OPENLANE's data, a significant addition within the Dominion application, will help dealers quickly locate inventory for their stores. Dominion Dealer Solutions will provide one-click, direct access from the inventory application to the OPENLANE auction. In addition, the integration will provide dealers the option to list vehicles for auction via OPENLANE's online auction platform at OPENLANE.com, simplifying the transmission of important data.
Openlane, Inc. Appoints Management Team
Oct 6 11
KAR Auction Services, Inc. announced key appointments to the executive management team of Openlane, Inc. In the U.S., Jason Ferreri has been appointed senior vice president in charge of commercial sales and Tim Zierden has added responsibility for company's dealer sales within his capacity as senior vice president of dealer services for ADESA, Inc. Previously, Ferreri was vice president of eBusiness sales and operations for ADESA, with responsibility for all of ADESA's U.S. private label internet remarketing initiatives. Prior to assuming his eBusiness role, Ferreri was vice president of sales for ADESA, where he focused on working with ADESA's many commercial accounts. Since joining ADESA in 2009, Zierden has led the company's dealer services division, overseeing the growth in dealer consignment and related services across the ADESA U.S. organization. Previously, Zierden held executive level positions with DealerTrack and the JM Family, as well as CarMax. Zierden will continue to report directly to Tom Caruso, chief executive officer and president of ADESA, and will provide an aligned solution for all dealer activity at ADESA and OPENLANE.
The Law Firm of Levi & Korsinsky, LLP Notifies Shareholders of Claims of Breaches of Fiduciary Duty by the Board of OPENLANE, Inc. in Connection with the Sale of Company to ADESA, Inc
Sep 19 11
Levi & Korsinsky notifies shareholders of OPENLANE, Inc. of claims of breaches of fiduciary duty and other violations of state law against the Board of Directors of the Company in connection with the sale of the Company to ADESA, Inc., a wholly owned subsidiary of KAR Auction Services, Inc. The transaction has a total approximate value of $210 million, plus an increase for excess cash on OPENLANE's balance sheet at closing, which represents a value of approximately $8.30 per OPENLANE share. A complaint was filed in Delaware state court. The claims concern whether the OPENLANE Board of Directors breached their fiduciary duties to OPENLANE stockholders by failing to adequately shop the Company before entering into this transaction and whether ADESA is underpaying for OPENLANE shares, thus unlawfully harming OPENLANE stockholders.
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