The Board of Directors of IAC approved the spin-off of the home renovation business, Angi.

Gelonghui, January 14 | IAC announced on Monday that the Board of Directors approved the spin-off of its home renovation Business Angi, which it acquired in 2017. The spin-off is expected to be completed in the second quarter of this year. As part of the spin-off, IAC CEO Joey Levin will resign and continue to serve as a consultant for the company. Additionally, Levin will serve as the executive chairman of Angi. Angi rose over 9% in after-hours trading.

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IAC (IAC.US) will spin off its home improvement service Angi (ANGI.US), and the latter's stock price rose 16% in after-hours trading.

IAC (IAC.US) announced on Monday that the Board of Directors approved the spin-off of its home renovation Business Angi (ANGI.US) acquired in 2017, with the spin-off expected to be completed in the second quarter of this year.

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