MILWAUKEE, WI--(Marketwired - November 02, 2016) - ARI Network Services, Inc. (NASDAQ: ARIS) announced today that it has acquired Auction123, Inc., a leading provider of software and services to help dealers in selected vertical markets manage and feed inventory information to online marketplaces to drive more sales and leads. Auction123 serves several vertical markets including automotive, powersports, recreational vehicles and marine. Terms of the transaction were not disclosed.
"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 W. Olivier. "We are excited about the opportunity to cross-sell our other products into Auction123's base of more than 1,200 dealers."
Founded in 2001, Auction123 has been a leader in online marketing solutions, inventory management and website development solutions for dealers in selected vertical markets. Their award-winning web-based software offers tight and seamless integration between the dealer management system (DMS), the dealer's website, eBay Motors, Craigslist, Facebook and other third-party classified websites.
Auction123 will maintain its headquarters in Weston, Florida.
"We expect the Auction123 acquisition to generate incremental revenue of more than $3 million for the remainder of our fiscal 2017 and be accretive to adjusted EBITDA," said ARI CFO William A. Nurthen.
ARI Network Services, Inc. (ARI) (NASDAQ: ARIS) offers an award-winning suite of SaaS, software tools, and marketing services to help dealers, manufacturers and distributors in selected vertical markets Sell More Stuff!™ -- online and in-store. Our innovative products are powered by a proprietary data repository of enriched original equipment and aftermarket electronic content spanning more than 17 million active part and accessory SKUs and 750,000 equipment/vehicle models. Business is complicated, but we believe our customers' technology tools don't have to be. We remove the complexity of selling and servicing new and used vehicle inventory, parts, garments and accessories for customers in the automotive tire and wheel aftermarket, powersports, outdoor power equipment, marine, recreational vehicle, home medical equipment, and appliance industries. More than 23,500 dealers, 195 distributors and 3,360 brands worldwide leverage our web and eCatalog platforms to Sell More Stuff!™ For more information on ARI, visit investor.arinet.com.
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