Angie’s List stock surges on news of merger with HomeAdvisor; new company to be called ANGI Homeservices Inc.

HomeAdvisor and its biggest rival, Angie’s List, announced Monday that the two companies will partner up as a new company, ANGI Homeservices Inc., by the end of 2017. Golden, CO based IAC, parent company to HomeAdvisor will own about 90% of the new company. Shares of Angie’s List, which has struggled in recent years, shot up 43% on news of the buyout. The deal is valued at just over $500 million.

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