QuinStreet to acquire HomeBuddy for $115M in cash

QuinStreet (QNST) announced that it entered into a definitive agreement to acquire Siren Group AG d/b/a as HomeBuddy. QuinStreet will integrate HomeBuddy into its Modernize Home Services business. Under the terms of the share purchase agreement, QuinStreet will acquire HomeBuddy for $115M in cash at closing and $75M in post-closing payments payable equally over four years, subject to certain closing adjustments. QuinStreet expects to finance a portion of the closing payment through borrowings under a new credit facility expected to be established on or prior to the closing of the transaction. The transaction is subject to the satisfaction of customary closing conditions, including regulatory approval, and is expected to close in early 2026. For the twelve months ended September 30, HomeBuddy generated approximately $141M in revenue. QuinStreet believes the acquisition of HomeBuddy would have been accretive to QuinStreet’s revenue and adjusted EBITDA for the same period. QuinStreet expects the acquisition will be accretive to its adjusted EBITDA and EPS, adding an expected $30M or more of adjusted EBITDA in the first twelve months following closing of the transaction, with significant expected growth from there as significant and already identified synergies of the transaction are implemented.