NEW YORK and INDIANAPOLIS – IAC and Angie’s List, Inc. announced they have entered into a definitive agreement to combine IAC’s HomeAdvisor and Angie’s List into a new publicly-traded company, to be called ANGI Homeservices Inc. The combined business, which will maintain both Angie’s List and HomeAdvisor brands, will offer unparalleled scale and product breadth to match homeowners with service professionals in the $400 billion domestic home services market. The transaction has been approved by the boards of directors of both companies, and is expected to close in the fourth quarter of 2017.
“This is now the 10th publicly traded company to emerge from what was one company, in 1995, with $48 million in sales and a market capitalization of $201 million – the beginning of IAC. Today, the equity value of the companies created is in excess of $43 billion, with a compounded annual return of 13.3 percent. While it’s hard to predict the future, I think we’ll just keep going,” said Barry Diller, chairman of IAC and Expedia, Inc.