ATC-Onlane Announces Name Change to OPENLANE

MENLO PARK, Calif.--ATC-Onlane, Inc., the leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles, today announced that the Company’s shareholders and board of directors approved a company name change to OPENLANE, Inc. effective immediately. This new corporate identity better reflects the company’s evolving vision, which is to provide dealers and sellers with first access to a broad inventory of vehicles and support services 24 hours a day, seven days a week.

Formed in 2006 by the merger of AutoTradeCenter, Inc. of Menlo Park, Calif., and Onlane, Inc. of Toronto, the combined organization formerly known as ATC-Onlane offers the industry’s most comprehensive suite of online remarketing and automotive auction services available in the U.S. and Canada. The name change represents another step in the integration of the two companies by replacing the separate brands with one inclusive corporate identity. The new brand speaks to the company’s goal of becoming an essential resource for all dealers and sellers of wholesale used vehicles nationwide.

Building on a legacy of success, OPENLANE is the clear leader in online auctions for the wholesale used car market and leads the industry today in vehicle selection, range of services and overall transaction volume. Moreover, OPENLANE is the online auction for more than 35,000 North American dealers and hundreds of consignors buying or selling wholesale used vehicles on the Internet.

“Since our inception, we’ve focused on bringing efficiency and cost savings to dealers and consignors by educating them about inherent advantages of using the Internet,” said Roger Butterwick, president & CEO of OPENLANE, Inc. “Today, these groups have grown more comfortable with selling or procuring online, so the time was right to change the company name to align with our evolving vision. The OPENLANE brand will become synonymous with dealers and consignors as the first stop to acquire inventory, around-the-clock accessibility and unparalleled dedication to customer service.”

About OPENLANE

OPENLANE, Inc. is the leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles. The company offers proven, end-to-end auto remarketing solutions to auto manufacturers; captive finance companies; lease and daily rental companies; financial institutions and wholesale auto auctions throughout the United States and Canada. OPENLANE powers successful online remarketing programs for American Honda Finance, Audi Financial Services, Avis Budget Group, Chase Auto Finance, Chrysler Financial Services, Ford Motor Credit, Porsche Financial Services, Volkswagen Credit, and several others. Since 1999, OPENLANE’s products and services have enabled customers to reduce cycle times, costs and achieve greater profitability. For more information, please visit www.openlane.com or call +1 (866) 969-0321.