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IAC's HomeAdvisor to merge with Angie's List

IAC, New York, and Angie's List Inc., Indianapolis, have entered into a definitive agreement to merge IAC's HomeAdvisor and Angie's List into a new publicly traded company, ANGI Homeservices Inc.

The new business, which will maintain Angie's List and HomeAdvisor brands, will match homeowners with service professionals in the domestic home services market. The transaction has been approved by the boards of directors for both companies and is expected to close in the fourth quarter of 2017.

Homeowners will be able to tap into North America's largest combined network of high-quality service professionals between HomeAdvisor's network of more than 156,000 and Angie's List's network of more than 55,000. Additionally, HomeAdvisor's product offerings will enhance the experience for more than 22 million monthly users currently visiting HomeAdvisor and Angie's List.