RDN and MVCONNECT Entities Enter Into Business Agreements

REDWOOD CITY, Calif.--(BUSINESS WIRE)--Recovery Database Network, Inc. (RDN), a specialized provider of software and data solutions related to the recovery of assets for the automotive finance industry and a subsidiary of OPENLANE, Inc., and MVCONNECT, LLC (“MV”) today announced that RDN and each of MVRecovery and MVIntel have entered into Limited Version User Agreements, and both MV repossession service provider companies are now Limited Version users on RDN. The parties have also entered into the following additional business relationships:

“We look forward to a productive future relationship with MVCONNECT”

• MVRecovery and MVIntel have entered into Repossession Services Provider Agreements with OPENLANE, allowing them to remarket repossessed vehicles on behalf of their lender clients on OPENLANE’s online wholesale vehicle auction; and
• Recovery Manager Pro (RMP) and OPENLANE have entered into an agreement that allows RMP to deliver vehicle listings on behalf of RMP’s eligible repossession companies to OPENLANE, so that the vehicles can be remarketed through the OPENLANE online wholesale vehicle auction.

“This business relationship is great for MVCONNECT, as well as our recovery agents and lenders. This adds a definable difference for MVCONNECT,” said Scott Jackson, Chief Executive Officer of MVCONNECT.

“We look forward to a productive future relationship with MVCONNECT,” said Nagi Palle, Vice President of OPENLANE.

About OPENLANE

OPENLANE, Inc. is a leading online auction company in North America for automotive dealers to buy and sell wholesale vehicles. The company offers end-to-end auto remarketing solutions to auto manufacturers, captive finance companies, lease and daily rental companies, financial institutions and wholesale auto auctions throughout the United States and Canada. OPENLANE powers online remarketing programs for American Honda Finance, Audi Financial Services, Avis Budget Group, BMW Financial Services Canada, Chase Auto Finance, Chrysler Financial, Porsche Financial Services, Southeast Toyota Finance, US Bank, Volkswagen Credit, among others. For more information, please visit www.openlane.com or call [phone].

About MVCONNECT

MVCONNECT, LLC – Home of The Intelligent Data Network™, MVTRAC, MVRecovery and MVIntel are the leading provider of real-time data solutions, skip tracing and national forwarding for auto finance, government and law enforcement organizations. Utilizing a national network of automated license plate recognition technology devices, MVTRAC receives real-time data capture from these systems and archives the intelligence in a centralized database. Recognized as the largest data capture network in the world, MVTRAC continues to grow through partnerships with government agencies and third-party camera owners at traffic lights, tollbooths, airports, major transportation hubs, security centers and retail-commercial parking lots.