Yelp to acquire RepairPal for roughly $80M in cash

Yelp (YELP) announced its agreement to acquire RepairPal, an auto services platform, for approximately $80 million in cash. This acquisition is expected to close by the end of the year, subject to customary closing conditions. “Our results highlight Yelp’s strong performance in its Services categories, which achieved double-digit year-over-year revenue growth for the 14th consecutive quarter, even as Restaurants, Retail and Other categories faced ongoing headwinds,” said David Schwarzbach, Yelp’s chief financial officer. “We continued to demonstrate disciplined expense management, with a net income margin of 11% and an adjusted EBITDA margin of 28% in the third quarter. Our planned acquisition aligns with our capital allocation strategy and demonstrates our ability to deploy balance sheet capital to support our business strategy.”