IAA, Inc. (NYSE: IAA) announced a strategic partnership with Marhaba Cars Auction located in the United Arab Emirates. Marhaba Cars Auction is a provider of online and in-person vehicle auctions and related shipping services. Marhaba Cars Auction will manage IAA’s Auction Center in the city of Sharjah, UAE, a major hub of the country’s repairable vehicle trade.
As an official partner, Marhaba Cars Auction will leverage IAA’s technology to operate its auctions through the U.S.-patented AuctionNow bidding platform. Using this technology will help to maximize reach for sellers, as Marhaba Cars Auction’s inventory will integrate with IAA’s website. Marhaba Cars Auction listings also will leverage the market-leading IAA Interact merchandising platform, which gives buyers the detailed information they want at a glance. On the local level, Marhaba Cars Auction purchasing experts will provide support for buyers in the UAE seeking to research, bid, buy and transport vehicles from IAA auctions in North America.
“The newest IAA Auction Center and the extension of our AuctionNow bidding platform to the UAE demonstrate our ongoing commitment to building our global buyer network,” said John Kett, CEO and President of IAA. “We are excited about the long-term market opportunity in the UAE as well as the additional exposure of IAA’s brand to our growing buyer base in the Middle East.”
“Access to the IAA AuctionNow platform and superior merchandising tools will allow us to enhance and streamline the customer journey,” said Mujeb Amanzay, founder and CEO of Marhaba Cars Auction. “Our partnership with IAA and its innovative technology will make the process of researching, bidding and buying more efficient for our customers while increasing transparency, confidence and trust.”