CoStar Group to acquire Matterport for ~$1.6B in cash/stock deal

COSTAR GROUP, INC.

Value of $5.50/share ($2.75 cash + $2.75 stock) for Matterport; enterprise value ~$1.6B.
Matterport's 2023 revenue $158M, up 16% YoY; over 12M spaces captured in 177 countries.
CoStar intends to integrate Matterport 3D digital twins across all its marketplaces including Homes.com.
Transaction unanimously approved by Matterport Board; holders of ~15% of shares support it.
Expected to close in 2024, subject to Matterport stockholder approval and regulatory clearances.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

COSTAR GROUP, INC. entered into Agreement and Plan of Merger and Reorganization with Matterport, Inc. (effective 2024-04-21).

Action: entry
Agreement: merger
Counterparty: Matterport, Inc.
Effective: 2024-04-21

Exact text from the filing

On April 21, 2024, CoStar Group, Inc., a Delaware corporation (“CoStar”), entered into an Agreement and Plan of Merger and Reorganization (the “Merger Agreement”) with Matterport, Inc.

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COSTAR GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-103937

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