IAC’s $500 Million Acquisition of Care.com

Skadden advised IAC on the deal.

IAC (NASDAQ: IAC) and Care.com (NYSE: CRCM) 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.

As part of IAC, Care.com will benefit from IAC’s history of building scaled marketplace businesses in verticals such as travel, dating and home services.

The transaction is expected to close in the first quarter of 2020.

IAC/InterActiveCorp is a media and internet company that report revenues in search and applications, the match group, media, and ecommerce.

Care.com is the world’s largest online marketplace for finding and managing family care.

The Skadden team included M&A partners Brandon Van Dyke (Picture; New York) and Richard Oliver (Washington, D.C.), and associates Demetrius Warrick (New York) and Anya Richter (New York).

Involved fees earner: Richard Oliver – Skadden Arps Slate Meager & Flom; Anya Richter – Skadden Arps Slate Meager & Flom; Brandon Van Dyke – Skadden Arps Slate Meager & Flom; Demetrius Warrick – Skadden Arps Slate Meager & Flom;

Law Firms: Skadden Arps Slate Meager & Flom;

Clients: InterActiveCorp (IAC);

Author: Ambrogio Visconti