Pacific Avenue Capital Partners to Acquire IAC's Care.com

NEW YORK-March 2, 2026-Today IAC (NASDAQ: IAC) announced it has entered into a definitive agreement with an affiliate of Pacific Avenue Capital Partners ("Pacific Avenue"), a global private equity firm specializing in corporate carve-outs in the middle market, in which the affiliate would acquire Care.com, one of the largest online marketplaces for finding family care and care jobs and wholly owned subsidiary of IAC, pursuant to which Pacific Avenue has agreed to purchase all of the issued and outstanding shares of Care.com, Inc. capital stock in an all cash transaction with a gross purchase price of approximately $320 million. The transaction is expected to close in the first half of 2026.

"We've been clear on our plan to sharpen IAC's strategic focus on People Inc. and our MGM stake, while opportunistically monetizing non-core holdings to simplify our portfolio and enhance financial flexibility," said Christopher Halpin, Executive Vice President, COO and CFO of IAC.

Acquired by IAC in 2020, Care.com is a leading platform and brand in the growing $400 billion market for family care. It is anchored by the largest online network of background-checked child and senior caregivers in the U.S and partnerships with over 700 employers to provide care solutions to their employees through Care.com. Under IAC, the company renewed its brand, overhauled its technology and transformed its product experience across Consumer and Enterprise, while expanding its presence in high-demand verticals such as senior care, pet care, and housekeeping, and significantly enhancing platform trust and safety.

"Care.com is an industry leader with a brand built on trust, a strong reputation, and a proven leadership team. Care.com has a clear path for growth as an independent, standalone company," said Chris Sznewajs, Founder and Managing Partner of Pacific Avenue. "This transaction aligns perfectly with Pacific Avenue's track record of executing corporate carve-outs to acquire market-leading businesses and partnering with leadership teams to elevate performance. We're excited to work with Brad, Michelle, and the Care.com team to unlock the company's full potential in serving families, caregivers, and its enterprise partners."

"Care.com is entering its next chapter from a strong position of profitability and strength, and we're excited to partner with Pacific Avenue to accelerate this momentum," said Brad Wilson, CEO of Care.com. "Their dedicated investment and operating expertise will allow us to move faster - particularly in scaling our enterprise offerings - while continuing to invest deeply in our platform and deliver even greater value to families and caregivers."

The transaction is subject to customary closing conditions and is expected to be completed in the first half of 2026.

Advisors

J.P. Morgan Securities LLC acted as exclusive financial advisor to IAC and Latham and Watkins LLP served as legal counsel to IAC. Weil, Gotshal & Manges LLP served as legal advisor to Pacific Avenue and Moelis & Company LLC served as exclusive financial advisor to Pacific Avenue.

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