Company Overview - Rover is the world's largest online marketplace for pet care, founded in 2011 and based in Seattle, Washington, connecting pet parents with pet care providers across 16 countries [8] - Mad Paws, founded in 2015, operates Australia's leading online pet ecosystem, facilitating over 400,000 transactions in 2024 and supporting over 300,000 active pet parents and 70,000 registered pet care providers [2][10] Acquisition Details - Rover has entered into a Scheme Implementation Deed (SID) to acquire 100% of Mad Paws shares, marking Rover's first entry into the Australian market [1][4] - The proposed acquisition values Mad Paws at approximately A$62 million, with shareholders set to receive A$0.14 per share in cash [4] - The transaction includes approximately A$13 million in cash proceeds from the planned sale of Mad Paws' Pet Chemist business [4] Strategic Implications - The acquisition is seen as a pivotal moment for Rover's international growth, with Australia representing a significant market opportunity worth approximately A$30 billion [3] - Mad Paws will continue to operate under its own brand in Sydney, led by its current CEO, Justus Hammer, post-acquisition [3][6] Approval and Conditions - The transaction is subject to several conditions, including the completion of the divestment of Mad Paws' Pet Chemist business, Australian Foreign Investment Review Board approval, and approvals from Mad Paws shareholders and the Australian court [6]