Under the terms of the agreement, OVE.com has purchased the assets and operations of NRT. The business acquired from NRT will continue to operate independently, but in cooperation with OVE.com.
Shakopee, Minn.-based NRT has provided remarketing solutions to its suppliers and dealers since 2001. NRT staff and management will continue in their current roles. OVE.com is a wholly owned business unit of Manheim focused on the virtual wholesale marketplace.
“This agreement will give existing OVE.com and NRT customers the option of continuing their current remarketing strategy or leveraging the comprehensive NRT and OVE.com suite of asset management and sales options,” said Kam Talebi, co-CEO of NRT.