Apartmentlove Completes Acquisition Of Gottarent.Com Paying 4X Ebitda In All Cash Takeover

Dec 16, 2022•over 2 years ago

Acquiring Company

Apartment Love

Acquired Company

GottaRent.com

Financial ServicesOtherSoftware

Description

ApartmentLove Inc. (CSE: APLV) (“ApartmentLove” or the “Company”), a leading provider of online home, apartment, and vacation rental marketing services to owners, renters, and vacationers from around the world is pleased to announce it has completed its acquisition of the established, very well-known, and profitable internet listing site GottaRent.com and other related domains from Metroland Media Group Ltd. (“Metroland”) in an all-cash takeover.

Company Information

Company

Apartment Love

About

The Company also now intends to complete a brokered private placement of its common shares in connection with the Acquisition and the Loan Facility, the details of which will soon be announced. Promoting rental properties in every major rental market in Canada and the United States, ApartmentLove has active rental listings in 30-countries on 5-continents around the world. Further to the press release issued October 28, 2021, announcing the signing of a non-binding letter of intent to acquire certain assets of Traffic2Revenue LLC dba iLS Network (the “Acquisition”), and the press release issued January 11, 2022, announcing a term debt facility of up to $10,000,000 (the "Loan Facility"); ApartmentLove is pleased to announce the closing of the second and final tranche of a non-brokered private placement of convertible debentures of the Company (the "Convertible Debentures") for aggregate gross proceeds of $753,000.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed