WASHINGTON (dpa-AFX) - Monday, CoStar Group, Inc. (CSGP) announced an agreement to acquire Matterport, Inc. (MTTR) for $5.50 per share, resulting in an estimated enterprise value of $1.6 billion.
According to the terms of the deal, Matterport shareholders will receive $2.75 in cash and $2.75 in CoStar Group common stock for each share of Matterport common stock.
The transaction is anticipated to be completed within the year, pending approval from Matterport shareholders, meeting standard closing conditions, securing regulatory approvals, and being subject to a 10% symmetrical collar linked to a CoStar Group share price of $86.02 as the midpoint.
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