CarGurus (CARG) to Acquire a Majority Stake in Instant Trade Platform, CarOffer
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CarGurus Agrees to Acquire a Majority Stake in Instant Trade Platform, CarOffer
December 10, 2020 7:00 AM ESTCAMBRIDGE, Mass., Dec. 10, 2020 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced it has entered into a definitive agreement to acquire a 51% interest in Plano, TX-based CarOffer at an enterprise valuation of $275M, with the ability to buy the remaining equity interest in the company over the next three years. The deal is subject to certain regulatory approvals and other closing conditions.
CarOffer is an automated instant vehicle trade platform that is disrupting the traditional wholesale auction model with technology that enables dealers to bid,... More
