Blackstone buys Rover for $2.3 billion in all-cash deal
Private equity firm Blackstone has announced its acquisition of pet care app Rover in a $2.3 billion all-cash deal. The agreement, which includes a 61% premium over Rover's average share price, is expected to close in Q1 2024. Rover's board of directors have approved the acquisition and recommended that shareholders do the same. The Seattle-based company, founded in 2011, connects pet owners with care providers and has seen significant growth in bookings and revenue.