=Angie's List (ANGI) to be acquired by IAC for over $500 million

• Update September 2017:  The new publicly traded company is called ANGI Homeservices Inc. Shares started trading in early October, 2017.

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• IAC, which owns sites like Match.com, Tinder and The Daily Beast, will merge Angie's List with its own reviews site HomeAdvisor. The newly combined, publicly-traded company will be named ANGI Homeservices and both the Angie's List and HomeAdvisor brands will be retained.
• In late 2015, IAC InterActive offered a $512 million cash buyout to acquire Angie’s List, but that offer was rejected.

    

Angie's List on Monday agreed to be acquired by IAC, the parent company of rival HomeAdvisor, for more than $500 million. The deal comes about a year and a half after Angie's List rejected a $512 million offer from IAC.

The deal, expected to close in the fourth quarter, is the end of an era for Indianapolis' best-known technology company. The new publicly traded company will be called ANGI Homeservices Inc. and will be headquartered in Golden, Colo. HomeAdvisor CEO Chris Terrill will lead the company.

The arrangement raises questions about the future of Angie's List's massive footprint in Indianapolis, as well as how many employees will remain with the combined company. IAC expects to cut $50 million to $75 million a year in costs by the end of 2018.