ServNet Joins in Agreement with ADESA to Leave MPS Initiative

- February 25, 2015

ServNet announced  that it has joined ADESA in decid­ing not to par­tic­i­pate in the remar­ket­ing industry’s cur­rent­ly pro­posed Mul­ti­plat­form Bid­ding Sys­tem ini­tia­tive (MPS). ServNet pres­i­dent Pat­ty Stan­ley said that recent devel­op­ments, tech­nol­o­gy chal­lenges, and antitrust con­cerns had led ServNet to the con­clu­sion that it would not be pru­dent to fur­ther pur­sue this ini­tia­tive.” The com­pa­ny agrees with ADESA that, as it’s cur­rent­ly struc­tured, the pro­posed MPS would erode com­pe­ti­tion while increas­ing tech­nol­o­gy require­ments and expen­di­tures.

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