Drive Inc. has been acquired by ACV Auctions Inc.
Drive Inc., a Dublin-based company specializing in mobile solutions for online car sales, has been acquired by Nasdaq-listed ACV Auctions Inc.
Drive is a Dublin-based mobility tech start-up, founded in 2019 by entrepreneurs Shane Ennis and Conor O’Boyle. The company connects consumers with automotive dealerships and facilitates interactions between dealerships through its brands, TradeBid and Nevo. Drive has a team of over 40 professionals, including experts in technology, marketing and the automotive industry. TradeBid is Ireland’s first end-to-end platform that streamlines and simplifies the buying and selling of pre-owned vehicles, providing an open and transparent digital marketplace. Nevo is Ireland’s only dedicated electric vehicle (EV) platform, offering a comprehensive range of services to help inform individuals about EV ownership and support those ready to make the switch to electric motoring.
ACV Auctions is a data-driven business that leverages digital marketplaces and data services to help dealers and commercial partners buy, sell and value vehicles. Its digital marketplace features core auction services, along with value-added offerings such as ACV Transportation, ACV Capital, and Go Green Assurance. Additionally, the company’s data services provide valuable insights into the condition and value of used vehicles, both on and off the marketplace. ACV Auctions’ primary market is the USA.
Oaklins’ team in Ireland acted as the exclusive corporate finance advisor to the shareholders of Drive.
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