On September 10, 2026, Copart, Inc. entered into a definitive Agreement and Plan of Merger to acquire all outstanding shares of ACV Auctions Inc. for $10.50 per share in cash, representing an implied equity value of approximately $1.9 billion. The transaction involves a cash tender offer followed by a merger, subject to customary conditions including Hart-Scott-Rodino antitrust approval and the tender of at least 50% of ACV shares. Support agreements covering approximately 4.1% of outstanding stock have been secured. The deal is expected to close by calendar year-end 2026 and is anticipated to be accretive to Copart's earnings per share in fiscal 2028 and beyond. ACV Auctions Inc. operates as a leading digital automotive marketplace and data services partner for dealers and commercial clients.

ACV Auctions Inc. reported second quarter 2026 financial results with revenue of $214 million, a 10% year-over-year increase, and Adjusted EBITDA of $21 million. The company reaffirmed its full-year 2026 guidance for revenue between $845 million and $855 million and Adjusted EBITDA between $73 million and $77 million. Concurrently, the company announced executive leadership changes: William Zerella resigned as Chief Financial Officer effective August 10, 2026, to pursue another opportunity, while Timothy Fox was promoted from Vice President of Investor Relations and Strategic Finance to succeed him, effective August 11, 2026. Fox received an initial equity grant comprising $1.5 million in restricted stock units and performance share units. ACV Auctions operates as a digital automotive marketplace and data services provider for dealers and commercial clients.