M&A Deal Summary

ACV Auctions Acquires MAX Digital

On July 13, 2021, ACV Auctions acquired internet software and services company MAX Digital for 60M USD

Acquisition Highlights
  • This is ACV Auctions’ 1st transaction in the Internet Software and Services sector.
  • This is ACV Auctions’ largest (disclosed) transaction.
  • This is ACV Auctions’ 3rd transaction in the United States.
  • This is ACV Auctions’ 1st transaction in Illinois.

M&A Deal Summary
Date 2021-07-13
Target MAX Digital
Sector Internet Software and Services
Buyer(s) ACV Auctions
Deal Type Add-on Acquisition
Deal Value 60M USD

Target

MAX Digital

Chicago, Illinois, United States
MAX Digital is an automotive data and merchandising product and inventory management system (IMS) platform FirstLook. MAX Digital's SaaS-based software products enable dealers to accurately price wholesale and retail inventory while maximizing profit on each vehicle sold by leveraging predictive analytics informed by machine learning. MAX Digital was founded in 2010 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

ACV Auctions

Buffalo, New York, United States
Category Company
Founded 2014
Sector Internet Software and Services
Employees2,170
Revenue 481M USD (2023)
DESCRIPTION

ACV Auctions is an online, wholesale vehicle marketplace that provides franchise and used-car dealerships a more effective and transparent way of buying and selling vehicles through 20-minute auctions. Its technology and data-driven insights modernize the entire arc of auction operations, providing third-party inspections, account management, title, and payment processing, managing arbitration and transportation. ACV Auctions was founded in 2014 and is based in Buffalo, New York.

DEAL STATS #
Overall 3 of 4
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 3 of 4
State (Illinois) 1 of 1
Country (United States) 3 of 3
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-21 ASI

Cincinnati, Ohio, United States

ASI is an automotive inspection services company that offers off-lease vehicle inspections, off-rental, fleet, and other services for original equipment manufacturers (OEMs).

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-28 Monk

Paris, France

Monk is an inspection and detection system for car damages. Its solution is based on a ground-breaking Artificial Intelligence technology allowing to detect damages on any car relying on pictures taken by users, renters and/or drivers for a fraction of the traditional solutions price. Monk was founded in 2019 and is based in Paris, France.

Buy -
Mergr

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