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FGS Global represents Rover Group as the No. 1 online market place for pet care agrees to be acquired by Blackstone for $2.3B in cash.
The $11 per share offer is a 61 percent premium over Rover’s average closing stock over its last 90 trading days.
Seattle-based Rover connects pet owners with providers who provide daytime dog walking, daycare and in-home visits services, as well as boarding and in-home pet sitting.
Since its launch in 2011, more than 4M people across North America and Europe have booked 93M services provided by 1M+ providers on Rover’s platforms.
Blackstone’s Tushar Gupta said Rover “has a significant runway for growth as pet owners increasingly place a premium on high-quality care, flexibility and convenience.”
Rover reported a 30 percent jump in Q3 revenues to $66.2M. It earned $10.5M vs. a $15.4M year earlier loss.
The Blackstone deal is expected to close during the first quarter of next year.
FGS Global’s John Christiansen and Danya Al-Qattan handle Rover.
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oele Frank works for satellite operator Iridium Communications as it gets acquired by space company Rocket Lab in a deal worth $8B.
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