Cars.com has agreed to acquire 100% of the assets of Accu-Trade, Galves Market Data and MADE Logistics, which includes real-time, VIN-specific appraisal and valuation data, instant guaranteed offer capabilities, and logistics technology. Consideration for the transaction will be $65 million in cash at closing. There is also the potential for additional cash and stock consideration based on achievement of certain financial thresholds. Cars.com anticipates making a $63 million earn-out payment, which may be higher or lower based on actual performance. The transaction is expected to close in approximately 30 days.

"We are excited to enter into the rapidly growing multi-billion-dollar digital vehicle acquisition and remarketing category with Accu-Trade,” said Alex Vetter, chief executive officer of CARS.

The CARS platform will now enable dealers to efficiently buy and sell inventory at scale across a dealer-to-dealer and consumer-to-dealer network, boosting inventory turn and maximizing profits per transaction. Integration of the technology across the CARS platform is expected to begin shortly after the transaction closes.

Accu-Trade generates revenue through subscription fees of its appraisal and data products to dealers. CARS expects to launch the product across its platform and begin recognizing incremental revenue in the second quarter of 2022.