DENVER BUSINESS JOURNAL - HomeAdvisor is making a move to buy its German counterpart and expand in Europe similar to how it’s growing in the United States.
Lakewood-based HomeAdvisor Inc. is buying a controlling interest in Germany's largest online home services market, called MyHammer, and plans to make an offer to MyHammer shareholders for the rest of the business in coming weeks.
HomeAdvisor Inc. already owns the largest online home improvement referral services in France and the Netherlands and has other operations in Europe. HomeAdvisor said it’s buying 70 percent of MyHammer from Holzbrinck Digital and all of a subsidiary of MyHammer that’s owned by Holzbrinck, plus loans owed to Holzbrinck by MyHammer. Terms of the private transaction were not disclosed.
HomeAdvisor aims to acquire the remaining, publicly-held stake in MyHammer for 5.14 euros per share in coming weeks, once it gets the okay from German regulators, the company said.
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