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IAC to acquire Care.com in all-cash transaction

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IAC to acquire Care.com in all-cash transaction

IAC/InterActiveCorp agreed to acquire Care.com Inc., an online platform for finding and managing family caretaker arrangements, for $15 per share in an all-cash transaction representing about $500 million of enterprise value.

The transaction is anticipated to close in the first quarter of 2020, following the successful completion of a stock tender offer by an IAC subsidiary to acquire Care.com's outstanding shares. IAC executive Tim Allen will become CEO of Care.com.