ADESA’s subsidiary AutoVIN has signed a definitive agreement to acquire the vehicle inspection business from DataScan Field Services.
DataScan, a J.M. Family Enterprises company and one of the largest automotive floorplan inventory verification and off-lease vehicle inspection companies in North America, uses web-based technology to perform vehicle inspection services for major auto manufacturers, financial institutions, leasing companies and warranty companies.
“This acquisition will provide an unmatched offering by combining DataScan's innovative technology for capturing vehicle information and communicating customer data with AutoVIN's vehicle inspection expertise and ADESA's renowned customer service,” Stéphane St-Hilaire, ADESA president and CEO said in a release.
AutoVIN provides professional field information services, specializing in vehicle condition reporting, inventory verification auditing, compliance auditing and facility inspections.
Field representatives electronically record all information right in the field. The company noted this minimizes risk for the customer by reducing errors and omissions and also increases efficiencies by decreasing the amount of time to process data.
The two combined companies will serve all major vehicle leasing companies and auto lenders with inspection needs. The transaction's closing is subject to conditions. The closing is expected to occur within the next 60 days.
Financial terms of the deal were not released.