KAR Acquires All of TradeRev Featured
04 October 2017
KAR Auction Services, Inc. has acquired the remaining interest in Nth Gen Software Inc., the parent company of TradeRev. KAR purchased a 50 percent stake in TradeRev in 2014 and acquired the remaining interest for $50 million in cash and an additional $75 million over the next four years contingent on certain terms and conditions including TradeRev performance. TradeRev will be led by Becca Polak, who for the last 10 years has served as KAR’s executive vice president, general counsel and corporate secretary. Polak will also be promoted to the position of chief legal officer and secretary for KAR where she will retain oversight responsibility for KAR’s enterprise legal and corporate communications functions.