• Digital Media Solutions, Inc's (NYSE: DMS) Board completed its review to evaluate potential strategic alternatives to maximize shareholder value.

• The Board has unanimously determined to continue executing the company's strategic plan as an independent, public company.

• On Mar. 3, 2023, Prism Data, LLC notified the company that it withdrew the Sept. 8 proposal to snap the company at $2.50 per share.

• DMS implemented a restructuring plan to create efficiency, save costs and strategically target areas with growth potential.

• With the business consolidation into DMS core service offerings, the restructuring resulted in a 14% reduction in the DMS workforce.

• DMS agreed to acquire the HomeQuote.io home services marketplace from Customer Direct Group and the supporting media and technology assets of the ClickDealer international ad network for $35 million.

• The acquisition will allow DMS to continue the expansion of its marketplace solutions into home services in the U.S. market while strengthening its brand direct business through international development.

• Performance in the two years following closing could result in up to $10 million in additional contingent consideration.

• The acquisition will likely add $70 million – $80 million to DMS FY2023 revenue and be accretive to DMS FY2023 earnings.

• DMS held $18.3 million in cash and equivalents as of Sept. 30.

• Price Action: DMS shares traded lower by 18.18% at $0.90 on the last check Monday.

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This article Digital Media Solutions Stock Slides As Prism Withdraws Takeover Offer; Knocks Off 14% Workforce originally appeared on Benzinga.com

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