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FX.co ★ CoStar Group To Acquire Matterport For Enterprise Value Of $1.6 Bln

CoStar Group To Acquire Matterport For Enterprise Value Of $1.6 Bln

On Monday, CoStar Group, Inc. announced a definitive agreement to acquire Matterport, Inc. with the share price set at $5.50. This acquisition deal puts the estimated enterprise value at a substantial $1.6 billion.

As part of the agreement, Matterport's shareholders are set to receive a sum of $2.75 in cash and $2.75 in CoStar Group's common stock per single share of Matterport common stock they own.

The deal is expected to be finalized in the coming year. However, certain prerequisites must be met including approval from Matterport's shareholders, fulfillment of standard closing conditions, and attainment of regulatory approvals. Also, the deal is subject to a 10% symmetrical collar, which is directly linked to CoStar Group's share price set at $86.02 as the midpoint.

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