IAC Announces Agreement to Acquire Care.com
CARE.COM (CRCM)
Last care.com earnings: 11/6 06:00 am
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US:NYSE Investor Relations:
investors.care.com/investors/default.aspx
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Source: PR Newswire
NEW YORK and WALTHAM, Mass., Dec. 20, 2019 /PRNewswire/ -- IAC (NASDAQ: IAC) and Care.com (NYSE: CRCM), the world's largest online marketplace for finding and managing family care, announced today that the two companies have entered into a definitive agreement pursuant to which IAC will acquire Care.com for $15.00 per share in an all-cash transaction representing approximately $500 million of enterprise value. This valuation represents a 34% premium to Care.com's unaffected closing stock price on October 25, 2019, the last trading day before a media report was published speculating about a potential sale process.With more than 1.5 million successful matches made since its inception and 374,000 paying families as of Q3 2019 , Care.com is the leading global platform for matching families with caregivers in the rapidly growing but highly fragmented market for family care, sized in excess of $300 billion in the US alone. With this acquisition, IAC will gain a foothold in a market new to t
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