News Summary

• Copart (NASDAQ: CPRT) announced an all-cash agreement to acquire ACV, a digital auto marketplace that moved roughly $10 billion of vehicles last year without owning a single lot.
• Revenue rose, but net income fell, and management is now betting that pairing its junkyards with someone else's software can fix that.
• ACV brings more than 22,000 active buyers and inspection and valuation technology, while Copart contributes over 275 locations, roughly 4 million vehicles sold annually, and about 1 million members across more than 185 countries.