Vikas Mehta, COO, ACV Auctions Inc Bijoy Ghosh BIJOY GHOSH
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Bijoy Ghosh
ACV Auctions Inc., a digital marketplace to buy and sell cars, is exploring strategic options including a potential sale after receiving takeover interest, according to people familiar with the matter.The Buffalo, New York-based company is working with financial advisers to conduct the review, the people said. It’s also weighing a strategic partnership as an alternative to a sale, the people said, asking not to be identified because the information is private.Any deal is still weeks away and the company could opt to remain independent, the people added. ACV’s shares have dropped 47 per cent over the past year and fell in late trading Monday after the company released second-quarter earnings showing a year-over-year revenue increase of 10 per cent.Tuesday proved volatile as the shares rose as much 13 per cent to $8.20 at the open of New York trading before falling back to as low as $6.70, or down 7.7 per cent from its previous close, later in the morning. The shares then climbed as high as $7.72 again at 2:00 p.m. before trending back down to close at $7.26, flat for the day. The Tuesday close gives ACV a market value of $1.2 billion.A representative for ACV declined to comment. ACV helps dealerships with wholesale auctions of used cars. Its services include financing and transportation and more than 1 million vehicle inspections a year, according to its website.ACV’s move comes as other players in the auto space are also heading to market. CCC Intelligent Solutions Holdings Inc., which makes software for the car insurance industry to help process auto claims and repairs, is exploring a sale amid pressure from activist investor Elliott Investment Management, Bloomberg News reported last month.Published on August 12, 2026
