Cars.com announced the acquisition of D2C Media, an automotive technology and digital solutions provider in Canada. The Company paid $76M at closing, which was funded by a combination of cash on hand and borrowings under the company’s existing revolving credit facility. There is also the potential for additional performance-based consideration of up to $25M as of the closing date based on achievement of certain financial thresholds. The transaction closed on November 1, 2023.
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