CoStar Group, Inc. filed a Form 8-K on February 28, 2025, announcing the completion of its acquisition of Matterport, Inc. The transaction was executed under the Agreement and Plan of Merger and Reorganization dated April 21, 2024. The acquisition was completed through a two-step merger process in which Matterport first merged with a wholly-owned subsidiary of CoStar Group and then merged into another CoStar subsidiary.

Under the terms of the merger agreement, each outstanding share of Matterport Class A common stock was converted into 0.03552 shares of CoStar Group common stock and $2.75 in cash per share. The exchange ratio was determined based on the volume-weighted average price of CoStar shares over 20 trading days before the merger was finalized. Fractional shares were settled in cash.

Following the completion of the merger, CoStar Group issued a press release announcing the transaction, which is attached as an exhibit to the filing.