Ritchie Bros is paying $740 million in cash as well as the assumption of unvested equity interests in IronPlanet in a deal that is set to close in the first half next year.
Some executives of IronPlanet, including chairman and chief executive Gregory Owens, will move over to Ritchie Bros after the transaction is completed.
Founded in 1999, IronPlanet is an online marketplace for equipment.
