Cars.com Inc. (CARS), an automotive digital marketing company, Friday announced the acquisition of DealerClub. The deal was approximately $25 million in cash at closing.
The transaction was completed on January 23. There is a possibility of earning an additional $88 million if certain financial targets are met, the company noted.
Cars Commerce expects minimal revenue impact from the transaction in 2025. It is also not expected to increase Adjusted EBITDA next year due to investments in scaling DealerClub.
DealerClub is a digital wholesale auction platform with a vision to expand into the wholesale market.
In the pre-market trading, Cars.com is 0.34% higher at $17.80 on the New York Stock Exchange.
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