Chicago-based Cars.com said Tuesday they have signed an agreement to buy 100% of Accu-Trade for $65 million. The deal will include Galves Market Data and Made Logistics, equipping the online vehicle listing provider with digital vehicle acquisition options for dealer-to-dealer and consumer-to-dealer sales. Features include an instant guaranteed offer tool and VIN-based valuation and appraisal information.
Hot Quote: Accu-Trade CTO, Jeff Zamora has said Cars.com is an ideal match to drive wider adoption of the Accu-Trade appraisal tool due to their existing consumer and dealer network, and proven track record.
Zamora will join the Cars.com leadership team once the deal is complete.
What To Watch For: We have been watching Accu-Trade build out their tool to provide more than just appraisal values. We are looking out for future news as the Cars.com team pushes resources into the potential of inventory management and a wholesale marketplace. After the Credit IQ acquisition, this rounds out the elements necessary for things like end-to-end transactions. 3rd-party to dealer site data transfer, and trade data efficiency for Cars.com. Watch out Cox. Paul and Kyle also got the chance to talk to Brian Kramer about the acquisition as well.
Telling it like it is — Real talk: all dealers are getting visits from their Cars reps with an Accu-Trade deck. Amiright?!