Angie’s List Parent Acquires New York Tech Company
Colorado-based ANGI Homeservices Inc. (Nasdaq: ANGI), which has a major presence in Indianapolis, has announced plans to acquire a tech company based in New York. Financial terms of the deal for Handy Technologies Inc. are not being disclosed, however ANGI says Handy will continue to operate out of New York City.
Handy Technologies is an on-demand platform and gig market place that, similar to ANGI brands HomeAdvisor and Angie’s List, connects people looking for household services with independent, pre-screened professionals at a fixed price.
ANGI Homeservices says Handy’s nationwide gig worker network of service professionals can help meet its unfulfilled consumer demand. Chief Executive Officer Chris Terrill says the acquisition will allow the company to deliver on more requests faster.
"Handy gives us a strong foothold in the gig economy space with an innovative product and infrastructure to power retailers’ in-home services offerings – this is a significant driver of the growth of the home services category and our acceleration within it," said Terrill. "I’m excited to welcome Handy and look forward to lending our category expertise and scale to fuel the growth of another powerful ANGI Homeservices brand."
Handy CEO Oisin Hanrahan and Chief Operating Officer Umang Dua, both of whom co-founded the company, will remain in their current roles. The acquisition is expected to close later this month, pending regulatory approval and customary closing conditions.