Blank-Check Firm PropTech Agrees to Merger With Porch.com

Blank-check company PropTech Acquisition Corp. agreed to merge with Porch.com Inc., a technology company focused on home services.

The deal gives the combined company an enterprise value of $523 million, according to a statement Friday that confirmed an earlier Bloomberg News report. Wellington Management Co. is investing $150 million as part of the deal.

Shares in PropTech were up 1.2% at $10.60 at 9:27 a.m. in New York.

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