CHICAGO-
The Company paid CAD
Transaction Highlights
Further expands the Company's geographic footprint; D2C serves 1,000 dealer customers in
Supports acceleration of Cars Commerce's profitable growth trajectory and is expected to be immediately accretive
Expected to create substantial cross-selling opportunities through rapid expansion of Canadian dealer base, expanding the potential for long-term Monthly Average Revenue Per Dealer ('ARPD') growth
D2C Media serves approximately 1,000 dealer customers throughout
'The acquisition of D2C Media presents an exciting opportunity to expand Cars Commerce further across
As a result of the acquisition, Cars Commerce will materially expand from its existing base of approximately 250 Dealer Inspire Canadian website customers. In addition, with this acquisition Cars Commerce will now be endorsed by approximately 60% of OEMs operating in
Based in
About Cars Commerce
Cars Commerce is an audience-driven technology company empowering automotive that simplifies everything about buying and selling cars. The Cars Commerce platform includes the flagship automotive marketplace and dealer reputation site
About
Founded in 2003,
Forward-Looking Statements
This press release contains 'forward-looking statements' within the meaning of the federal securities laws. All statements other than statements of historical facts are forward-looking statements. Forward-looking statements include information concerning goals, plans, expectations, projections regarding the expected benefits of the transaction, management's plans, projections and objectives for the transaction, future operations, scale and performance, integration plans and expected synergies therefrom, and our financial position, results of operations, market position, capital allocation strategy, initiatives, business strategy and expectations of our management, and other matters and involve known and unknown risks that are difficult to predict. As a result, our actual financial results, performance, achievements, strategic actions or prospects may differ materially from those expressed or implied by these forward-looking statements. These statements often include words such as 'believe,' 'expect,' 'project,' 'anticipate,' 'outlook,' 'intend,' 'strategy,' 'plan,' 'estimate,' 'target,' 'seek,' 'will,' 'may,' 'would,' 'should,' 'could,' 'forecasts,' 'mission,' 'strive,' 'more,' 'goal' or similar expressions. All forward-looking statements contained in this press release are qualified by these cautionary statements. Forward-looking statements are based on our current expectations, beliefs, strategies, estimates, projections and assumptions, experience in the industry as well as our perceptions of historical trends, current conditions, expected future developments, global supply chain shortages, fluctuating fuel prices, rising interest rates, inflation and and other factors we think are appropriate. Such forward-looking statements are based on estimates and assumptions that, while considered reasonable by the Company and its management based on their knowledge and understanding of the business and industry, are inherently uncertain. While the Company and its management make such statements in good faith and believe such judgments are reasonable, you should understand that these statements are not guarantees of future strategic action, performance or results.Our actual results, performance, achievements, strategic actions, or prospects could differ materially from those expressed or implied by these forward-looking statements. Given these uncertainties, you should not rely on forward-looking statements in making investment decisions. When we make comparisons of results between current and prior periods, we do not intend to express any future trends, or indications of future performance, unless expressed as such, and you should view such comparisons as historical data. Whether or not any such forward-looking statement is in fact achieved will depend on future events, some of which are beyond our control.
Forward-looking statements are subject to a number of risks, uncertainties and other important factors, many of which are beyond our control, that could cause our actual results and strategic actions to differ materially from those expressed in the forward-looking statements contained in this press release. For a detailed discussion of many of these and other risks and uncertainties, see 'Part I, Item 1A., Risk Factors' and 'Part II, Item 7., Management's Discussion and Analysis of Financial Condition and Results of Operations' in our Annual Report on Form 10-K for the year ended
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