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Subsequent Events
12 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events

16. Subsequent Events

On July 1, 2020, the Company completed the acquisition of Modernize, Inc. (“Modernize”), a leading home improvement performance marketing company in the home services client vertical, to broaden its customer and media relationships. In exchange for all the outstanding shares of Modernize, the Company paid $43.9 million in cash upon closing (including $3.9 million cash for net assets acquired subject to post-closing adjustments) and will make $27.5 million in post-closing payments, payable in cash in equal annual installments over a five year period. The Company expects to account for this transaction as a business combination. The initial accounting, including the identification and allocation of consideration to assets acquired and liabilities assumed, is not complete given the proximity of the acquisition to the financial statement filing date.