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M&A Deal Summary

CarGurus Acquires CarOffer

On December 10, 2020, CarGurus acquired internet software and services company CarOffer

Acquisition Highlights
  • This is CarGurus’ 2nd transaction in the Internet Software and Services sector.
  • This is CarGurus’ 2nd transaction in the United States.
  • This is CarGurus’ 1st transaction in Texas.

M&A Deal Summary
Date 2020-12-10
Target CarOffer
Sector Internet Software and Services
Buyer(s) CarGurus
Deal Type Add-on Acquisition
Advisor(s) Portico Capital Securities (Financial)

Target

CarOffer

Plano, Texas, United States
CarOffer is the automotive industry’s first instant trade platform for modern-day retailing that helps dealers trade more, buy more and make more. Leveraging the power of data, national scale, and the company’s proprietary Buying Matrix technology, the platform helps dealers acquire and exchange used inventory more efficiently. Developed by one of the recognized pioneers in inventory management software, Bruce Thompson, the CarOffer platform is a singular seamless solution that can replace numerous service providers commonly used by dealerships, offering significant instant savings and efficiencies. CarOffer was formed in 2019 and is based in Plano, Texas.

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Buyer(S) 1

Buyer

CarGurus

Cambridge, Massachusetts, United States
Category Company
Founded 2005
Sector Internet Software and Services
Employees1,282
Revenue 894M USD (2024)
DESCRIPTION

CarGurus is an online automotive marketplace connecting buyers and sellers of new and used cars. Using proprietary technology, search algorithms, and innovative data analytics, CarGurus believes it is building the world's most trusted and transparent automotive marketplace and creating a differentiated automotive search experience for consumers. CarGurus was founded in 2005 and is based in Cambridge, Massachusetts.

DEAL STATS #
Overall 2 of 2
Sector: Internet Software and Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 2
State: Texas M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2020 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-16 Autolist

San Francisco, California, United States

Autolist, Inc. is a car-shopping platform. More than 28,000 US dealers list inventory on CarGurus through paid subscriptions, which enable dealers to connect with car shoppers and sell more cars. Autolist was founded in 2014 and is based in San Francisco, California.

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