Tuesday, August 30, 2016

IronPlanet Acquired For $758M

Pleasanton-based IronPlanet, which operates an online marketplace for heavy, industrial equipment, has been acquired by Ritchie Bros. Auctioneers Incorporated. The companies said Ritchie Bros. will pay approximately $758.5M for IronPlanet. IronPlanet was venture backed by Accel Partners, Kleiner Perkins, Caterpillar, Dyncorp, Marubeni Corp., IGNITE Group, Volvo Construction Equipment and Windspeed Ventures. The companies said that IronPlanet sold approximately $787M in gross merchandise value (GMV) through its sales channel in 2015.