Lakewood-based HomeAdvisor Inc. plans to merge with rival home-improvement ratings service Angie’s List and become a new, publicly traded company called Angi Homeservices Inc. that's run from Colorado.
IAC InterActive Corp. (Nasdaq: IAC), the New York City-based parent company of HomeAdvisor, announced today that it and Indianapolis-based Angie’s List (Nasdaq: ANGI) reached agreement on the deal, which is scheduled to close in the fourth quarter this year.
The transaction combines Angie’s List’s well-known brand and large audience with HomeAdvisor, which has the largest network of screened home improvement contractors who pay to be listed and consumer apps that have driven domestic revenue growth in excess of 35 percent, the company said.
Angie’s List shareholders will be offered the choice of either a single share in the new company or $8.50 cash. The cash payouts will be limited to $130 million, the companies said.
Read more at the Denver Business Journal:http://bit.ly/2oRgfF7
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