IAC/InterActiveCorp (NASDAQ: IAC) has launched a tender offer to acquire human cloud firm Care.com (NYSE CRCM), based in Waltham, Massachusetts, according to an announcement last week. The deal was initially announced in December.
IAC, based in New York, owns other human cloud platforms including online staffing platform BlueCrew and Handy Technologies. It also owns dating websites Match.com and Tinder as well as video website Vimeo.
The deal would pay $15 per common share. Shares of Series A convertible preferred stock of Care.com would be acquired at a purchase price equal to 150% of the liquidation preference per preferred share plus accrued and unpaid dividends.
The board of Care.com has found the offer to be fair. The tender offer expires on Feb. 10.
Care.com is a B2C-focused firm that provides in-home healthcare workers. It was founded in 2006.