M&A Deal Summary

ACV Auctions Acquires Monk

On February 28, 2022, ACV Auctions acquired software company Monk

Acquisition Highlights
  • This is ACV Auctions’ 1st transaction in the Software sector.
  • This is ACV Auctions’ 1st transaction in France.

M&A Deal Summary

Date 2022-02-28
Target Monk
Sector Software
Buyer(s) ACV Auctions
Deal Type Add-on Acquisition

Target

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.

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Buyer(S) 1

Buyer

ACV Auctions

Buffalo, New York, United States

Category Company
Founded 2014
Sector Internet Software and Services
Employees2,900
Revenue 637M USD (2024)
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 4 of 4
Sector: Software M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 4
Country: France M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-13 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.

Buy $60M