CoStar Group has entered a definitive agreement to acquire Matterport, a 3D spatial data capture platform, in a cash and stock transaction valued at USD 5.50 per share, comprising an equity value of nearly USD 2.1 billion and an enterprise value of approximately USD 1.6 billion based on the closing price for CoStar Group common stock on April 19, 2024. The transaction is pending approval from Matterport shareholders and meeting standard closing requirements, including regulatory approvals.

Through this acquisition, CoStar Group plans to use Matterport's technology to enhance its online real estate marketplaces and other offerings by providing users a more immersive property viewing experience.

Analyst QuickTake: DocuSign , another proptech disruptor operating in the transaction closing tools segment, announced exploring options for potential sale in December last year amid slowing growth and citing recent leadership changes, layoffs, and lower-than-expected revenue forecasts as having impacted the company's stock performance.