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Subsequent Event
12 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
Subsequent Event

Note 16. Subsequent Events

 

Accu-Trade Acquisition. In February 2022, the Company signed an agreement to acquire 100% of the assets of Accu-Trade, Galves Market Data and MADE Logistics ("Accu-Trade"), which includes real-time, VIN-specific appraisal and valuation data, instant guaranteed offer capabilities, and logistics technology. Consideration for the transaction will be $65 million in cash at closing. There is also the potential for additional cash and stock consideration based on achievement of certain financial thresholds. The transaction is expected to close in March 2022.

 

Share Repurchase Program. In February 2022, the Company’s Board of Directors authorized a three-year share repurchase program to acquire up to $200 million of the Company’s common stock.