New York, April 22, 2024 - PRISM MarketView - Today the technology company specializing in creating immersive 3D experiences of physical spaces Matterport, Inc. (MTTR) announced today that it has entered into a definitive agreement with CoStar Group, Inc. (CSGP) who will acquire all of Matterport’s outstanding shares in a cash and stock transaction valued at $5.50 per share. This represents an equity value of approximately $2.1 billion and an enterprise value of approximately $1.6 billion based on the closing price for CoStar Group common stock on April 19, 2024. CoStar Group is a provider of online retail marketplaces. Matterport participates in the PRISM NextGen Tech and AI Index.
Matterport’s 3D technology finds application across various sectors of real estate, including residential, commercial, hospitality, retail, and industrial domains. Over time, Matterport has amassed the largest and most accurate repository of spatial property data globally. With over 12 million spaces captured across 177 countries, it represents a staggering 38 billion square feet of digital property managed. This extensive growth is fueled by Matterport’s global network comprising thousands of photographers, capture services technicians, and service partners, who collectively generate hundreds of thousands of new 3D digital twins for properties each month.
The transaction is expected to be completed during the year.
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