KAR Buys Drivin Featured
19 April 2017
KAR Auction Services Inc. announced the acquisition of CarCo Technologies Inc., d/b/a Drivin, in a $43 million stock purchase transaction. Drivin aggregates automotive retail pricing, registration and other market and economic data from a variety of public and proprietary sources. The insights generated from that data are deployed through predictive pricing, inventory management and vehicle matching tools that help customers buy, sell and source vehicles. KAR plans to build on this foundation and leverage Drivin’s infrastructure and user interface to deploy its own products and services as well.Headquartered in Chicago, Drivin was launched in 2015 by Groupon co-founders Brad Keywell and Eric Lefkofsky, Drivin CEO Kayne Grau and Chief Operating Officer Justin Mahlik. Both Grau and Mahlik will continue to lead Drivin at KAR as president and chief operating officer, respectively. The company will also retain the Chicago location and key members of the Drivin leadership team.