Canadian-based Ritchie Bros Auctioneers Incorporated is acquiring IronPlanet for approximately US$758.5 million to accelerate its customer centric multi-channel diversification strategy. Ritchie Bros is world’s largest industrial auctioneer and a leading equipment distributor. IronPlanet is a leading online marketplace for used heavy equipment and other durable asset sales. IronPlanet will complement Ritchie Bros’ primarily end-user customer base as it focuses mainly on the needs of corporate accounts, equipment manufacturers, dealers and government entities in equipment disposition solutions. Its sales are mainly conducted through online-only platforms, with weekly online auctions and in other equipment marketplaces.