ACV Announces Acquisition

By Staff Writer July 13, 2021

ACV has purchased MAX Digital, a pioneer in automotive data and merchandising products and best known for its flagship inventory management system (IMS) platform FirstLook. The transaction is valued at $60 million. 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.

“ACV’s digital-first approach has empowered thousands of dealers to buy, sell and value their vehicles online with confidence,” said ACV CEO George Chamoun. “This acquisition builds on our commitment to help dealers enhance their bottom-line with tools that enable efficient, informed decisions powered by digital intelligence.”

This acquisition allows ACV to expand its suite of digital capabilities to offer new inventory and pricing guidance, merchandising and sales enablement tools that will help dealers run their businesses more efficiently and profitably. MAX Digital joins ACV’s growing network of brands that includes ACV Auctions, ACV Transportation, ACV Capital, and True360. MAX Digital’s portfolio of software solutions will operate as a separate and independent business unit, preserving current management and product offerings. Former CEO Robert Granados will lead this independent business unit within ACV.

Rate this item
(0 votes)
Last modified on Friday, 16 July 2021 14:22