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New Deal


Announced

Completed

PropTech Acquisition completed the merger with Porch in a $523m deal.

Financials

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Transaction Value£398m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Friendly

Majority

Merger

Single Bidder

Private

Software

home projects

networking

home improvement

United States

Domestic

Reverse Takeover

Completed

Disposal

Private Equity

De-SPAC

Synopsis

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PropTech Acquisition, a special purpose acquisition company, completed the acquisition with Porch, a software and services platform for the home inspection and home service industries, from private equity firms Battery Ventures, Valor Equity Partners, Panorama Point Partners, FJ Labs, Moderne Ventures and The Founders Fund Growth Management, in a $523m deal. With the closing, the combined company has been renamed “Porch Group" and its common stock and warrants will begin trading on The Nasdaq under the ticker symbols "PRCH" and “PRCHW”. “Today is a momentous day for our company, our employees and our shareholders. We set out to build a truly great company that makes the home simple, from moving to maintenance and everything in between. It has been an amazing journey building Porch to where it is today, but we truly believe we are just now getting started," Matt Ehrlichman, Porch Founder, and CEO.

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