Monday, January 6, 2020
Care.com (CRCM) to be acquired by IAC (IAC) for $500M
Dec 20, 2019
New York-based media and internet holding company IAC is acquiring the online marketplace Care.com Inc. in an all-cash transaction valued at $500 million, the companies announced Friday.
Waltham-based Care.com, which seeks to match caregivers with families, launched in 2007 and became a public company in January 2014. The company also has offices in San Francisco, Berlin and Austin.
Its matching services cover senior care, child care, pet care and housekeeping, among others. The company said its network includes 19.8 families and 14.3 million caregivers.
IAC (Nasdaq: IAC) is acquiring Care.com (NYSE: CRCM) for $15 per share, a 34 percent premium to the company’s closing stock price on Oct. 25. IAC has majority ownership in companies that covers travel, dating and home services such HomeAdvisor, and Angie’s List. Earlier this year, IAC said it plans to spin off its majority stake in the Match Group, which includes the dating services Tinder, Match, OkCupid and Hinge.