TrueCar Inc., the Santa Monica-based automotive pricing and information platform, has entered into an agreement to sell its ALG Inc. subsidiary to J.D. Power for $135 million.

Total consideration includes an upfront cash payment of $112.5 million at closing and deferred payments of up to $22.5 million. The companies announced the deal on Aug. 6.

“Today’s announcement is a tremendous outcome both in terms of the value delivered to our shareholders and the potential ALG has with its new owner,” Mike Darrow, president and chief executive of TrueCar, said in a statement.

“After careful consideration of a variety of options and potential partners, it became clear that a sale of ALG to J.D. Power, with its breadth of complementary services, represented the best possible path forward for all parties,” he added.

ALG is the residual values data and analytics subsidiary of TrueCar, which runs an automotive pricing and information app and website for new and used car buyers and dealers. TrueCar charges dealerships for potential buyers’ contact information. Founded in 2005 and formerly known as Zag.com, TrueCar went public in May 2014.

“We believe ALG will bring complementary strengths and value to J.D. Power and its clients,” said Dave Habiger, president and chief executive of Troy, Mich.-based J.D. Power in a statement.

TrueCar also announced that its board has authorized a share repurchase program of up to $75 million. It said it intends to begin repurchasing shares in the near-term with available cash as well as the proceeds from the ALG divestiture.