MILWAUKEE (Nov. 4, 2016) — Automotive business software solutions and marketing services provider ARI Network Services Inc. has acquired Auction123 Inc., a firm dedicated to helping client companies in select vertical markets manage and feed inventory information to online marketplaces.
The acquisition of Auction123, which ARI said will continue to be headquartered in Weston, Fla., is expected to generate incremental revenue of more than $3 million for the remainder of fiscal 2017 “and be accretive to adjusted EBITDA,” ARI CFO William Nurthen said in a press release. Terms of the deal were not disclosed.
Founded in 2001, Auction123 has focused on implementing online marketing solutions, inventory management and website development solutions for its client base. The company services a number of vertical markets, including the automotive, powersports, recreational vehicles and marine sectors.
According to ARI, the firm's software offers “tight and seamless integration” between the dealer management system, client websites, eBay Motors, Craigslist, Facebook and other third-party classified websites.
“The acquisition of Auction123 will accelerate ARI's growth in our existing vertical markets, introduces ARI into the automotive dealer market and is consistent with our strategy to grow the business both organically and through strategic acquisitions,” said ARI President and CEO Roy Olivier. “We are excited about the opportunity to cross-sell our other products into Auction123's base of more than 1,200 dealers.”