MENLO PARK, Calif. — ATC-Onlane Inc., provider of online auctions for the wholesale used-car market, has received approval from its shareholders and board of directors to change its name to OPENLANE Inc. This new corporate identity better reflects the company’s evolving vision, which is to provide dealers and sellers with first access to a broad inventory of vehicles and support services 24 hours a day, seven days a week.

The company was formed in 2006 by the merger of AutoTradeCenter Inc. of Menlo Park, Calif., and Onlane Inc. of Toronto. The name change represents another step in the integration of the two companies by replacing the separate brands with one inclusive corporate identity.

“Since our inception, we’ve focused on bringing efficiency and cost savings to dealers and consignors by educating them about inherent advantages of using the Internet,” said Roger Butterwick, president and CEO of OPENLANE Inc. “Today, these groups have grown more comfortable with selling or procuring online, so the time was right to change the company name to align with our evolving vision. The OPENLANE brand will become synonymous with dealers and consignors as the first stop to acquire inventory, around-the-clock accessibility and unparalleled dedication to customer service.”