SAN JOSE (dpa-AFX) - eBay Inc. (EBAY), Monday said it has agreed to acquire Caramel, an end-to-end online automotive transaction solution provider.
The deal is expected to occur in the first quarter of 2025. Further details are not disclosed.
Caramel's innovative technology platform provides a secure and seamless digital transaction experience that handles all of the complexities of a vehicle sale, including paperwork, ownership transfer, financing, transportation and more.
'eBay's acquisition of Caramel is about creating trust for vehicle buyers. Buying a car is a big moment. Caramel's platform brings it all into one simple, seamless process: title and identity verification, insurance, financing - even shipping the car to the buyer after purchase,' said Chris Prill, General Manager, eBay Motors. 'With Caramel and eBay combining forces, both buyers and sellers will be able to complete vehicle transactions on eBay with greater peace-of-mind, and Caramel can further establish itself across a myriad of platforms.'
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