CarGurus Agrees To Fully Acquire CarOffer For $75M
Portfolio Pulse from Benzinga Newsdesk
CarGurus (NASDAQ:CARG) has announced its decision to fully acquire CarOffer for $75 million in an all-cash transaction. The deal is expected to close in December 2023. CarGurus had previously acquired a 51% stake in CarOffer in 2021. The acquisition is part of CarGurus' strategy to strengthen operations between the two platforms and accelerate plans for solutions that power its development of a transaction-enabled platform supporting dealers and consumers.
November 07, 2023 | 9:16 pm
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CarGurus' decision to fully acquire CarOffer for $75 million could strengthen its operations and accelerate its plans for a transaction-enabled platform. This could potentially increase its market share and revenues in the long run.
The acquisition of CarOffer could allow CarGurus to strengthen its operations and accelerate its plans for a transaction-enabled platform. This could potentially increase its market share and revenues in the long run, which could positively impact its stock price.
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