June 1 - Heavy equipment auctioneer Ritchie Bros has acquired IronPlanet, an online marketplace for heavy equipment and other durable assets.

Ritchie Bros says the USD758.5 million acquisition accelerates its strategy of becoming a one-stop, multichannel company where customers can buy, sell or list equipment, when, how and where they choose - both onsite and online.

Later this year, Ritchie Bros will combine its online EquipmentOne brand with the IronPlanet daily marketplace, creating a harmonised brand offering called Marketplace E.

As a part of the acquisition, Ritchie Bros also enters into an initial five-year strategic alliance with Caterpillar which is expected to strengthen its relationship with Caterpillar's independent dealers around the world by providing them enhanced and continued access to a global auction marketplace to sell their used equipment.