Bed Bath & Beyond to acquire Fathom Holdings for $53M in "Everything Home" push

Bed Bath & Beyond Inc. (NASDAQ:BBBY) has entered a definitive statement to get existent property services level Fathom Holdings for astir $53.38 cardinal arsenic it pushes deeper into the afloat homeownership lifecycle.

The woody calls for Fathom shareholders to person 0.2236 shares of Bed Bath & Beyond communal banal for each Fathom stock held, taxable to definite closing adjustments.

The acquisition adds Fathom's brokerage, mortgage, title, security and homeowner fiscal services capabilities to Bed Bath & Beyond's increasing "Everything Home" platform.

Bed Bath & Beyond said the combined institution aims to physique what it described arsenic the nation's archetypal end-to-end homeownership platform, connecting location buying, financing and furnishing nether 1 roof.

The woody is expected to accelerate adoption of Fathom's intelliAgent exertion level and make cross-selling opportunities crossed location services and products.

Fathom said the tie-up would springiness it contiguous entree to millions of Bed Bath & Beyond customers astatine cardinal moments successful the homeownership journey, on with greater superior to put successful its exertion level and cause network.

Fathom Holdings is simply a national, technology-driven existent property services level whose brands see Fathom Realty, Encompass Lending, intelliAgent, Real Results and Verus Title.

Separately, Bed Bath & Beyond announced that Adam Rothstein, a existent Fathom committee member, has been named interim CEO, and that Daniel Weinmann, the company's vice president of finance, has been appointed CFO, some effectual immediately.

Shares of Fathom Holdings surged 82% connected the news.