Benzinga | Mar 31, 2021 04:08PM EDT

Angi Inc. Acquires Additional 20% Interest in MyBuilder

Today, Angi Inc. (NASDAQ:ANGI) announced it acquired an additional 20 percent interest in its MyBuilder business, a leading marketplace in the United Kingdom for discovering vetted, quality tradesmen.

In connection with the acquisition, Angi will record a one-time expense, impacting Adjusted EBITDA and operating income by approximately $6 million in the quarter ending March 31, 2021.

Angi purchased its original stake in MyBuilder--75 percent of the company-- in 2017