DALLAS: Copart, Inc. (NASDAQ: CPRT), a global leader in online vehicle auctions, announced a definitive agreement to acquire ACV (NYSE: ACVA) in a cash deal valued at approximately $1.9 billion.

Under the agreement, Copart will acquire all outstanding shares of ACV common stock for $10.50 per share in cash. The per-share price represents a premium of approximately 45% over ACV’s unaffected closing stock price on Aug. 10, 2026 — the last trading day before media reports surfaced about a potential transaction — and a 41% premium over ACV’s 30-day volume-weighted average price for the period ending Sept. 9, 2026.

The transaction is expected to close by the end of 2026, subject to a tender offer for at least a majority of ACV’s outstanding shares, expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and other customary conditions. Both companies’ boards of directors unanimously approved the deal.

Copart said it will fund the acquisition through cash on hand and that the transaction is not subject to any financing condition.

The acquisition adds ACV’s digital wholesale platform for vehicle resale to Copart’s operations, extending the company’s reach into dealer-to-dealer wholesale remarketing. Copart plans to leverage its global buyer network and more than 250 locations to support ACV’s commercial wholesale platform and national buyer and inspector network.

“This acquisition reflects a significant milestone in our growth strategy by creating an industry-leading end-to-end vehicle remarketing platform that is fully digital,” said Jay Adair, chief executive officer of Copart. “ACV has built a differentiated, technology-driven marketplace that perfectly complements our extensive physical infrastructure and expansive buyer network.”

ACV CEO George Chamoun said joining Copart would allow the company to advance its mission and accelerate innovation with global scale.

“Together, we will deliver even more value to our dealer and commercial partners by offering expanded capabilities, including leveraging Copart’s nationwide footprint and a combined demand engine that ensures the right vehicle gets to the right buyer,” Chamoun said.

The combined company will participate across the vehicle lifecycle, from dealer trade-ins and wholesale remarketing to salvage disposition and international resale. Copart said the deal will create one of the industry’s largest vehicle condition datasets and generate cross-selling opportunities across dealer, commercial and retail channels.

ACV also brings dealer-focused inspection technology, condition data and AI-powered valuation tools that Copart said will strengthen its existing products and create a differentiated vehicle-data platform.

Copart expects the transaction to be neutral on its earnings per share in the first full year of ownership and accretive in fiscal 2028 and beyond.

Following the close, ACV will operate as an independent subsidiary of Copart led by ACV’s existing leadership team.

Evercore is serving as financial advisor to Copart, with Wilson Sonsini Goodrich & Rosati, Professional Corporation as legal counsel and FGS Global as strategic communications advisor. J.P. Morgan Securities LLC is serving as exclusive financial advisor to ACV and provided a fairness opinion, with Davis Polk & Wardwell LLP as legal counsel and Joele Frank, Wilkinson Brimmer Katcher as strategic communications advisor.

Copart, founded in 1982, connects vehicle consignors to approximately 1 million members in more than 185 countries and sold more than 4 million units in the last year. ACV offers ACV Auctions, ACV Transportation, ACV Capital, ACV MAX, ClearCar, VIPER and True360.

Copart also reported its financial results for the fourth quarter and full fiscal year 2026 in a separate release Monday. The company will host a conference call at 5:30 p.m. Eastern Time to discuss the results and the transaction.