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Valuation and strategic synergies in the costar group - matterport acquisition the SPAC boom and burst: analysis of 18-month post-merger performance in SPAC transactions
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This work project examines CoStar Group’s February 2025 acquisition of Matterport, assessing value creation and potential overpayment. Valuation and strategic rationale are analyzed using discounted cash flow, adjusted present value, market-based multiples, and scenario-based synergy analysis. Results show intrinsic overvaluation of Matterport, with value creation contingent on synergy realization. The project also studies 18-month post-merger performance of 307 U.S. deSPACs from 2020 to 2024, documenting widespread underperformance driven
primarily by structural SPAC features rather than firm fundamentals.
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M&A Company valuation Intrinsic valuation Relative valuation Synergies Digital twin technology Real Estate Long-run performance Post-merger underperformance Structural dilution aSpecial purpose acquisition Companies SPACs