Vacation rental management companies Casago and Vacasa Inc. have entered into a definitive agreement under which Casago and Vacasa will combine in a transaction in which Casago will acquire all outstanding shares of Vacasa held by public stockholders for $5.02 per share, subject to adjustment as set forth in the merger agreement.

“Casago has always been committed to delivering personalized, locally empowered service to homeowners, and exceptional experiences to guests,” said Steve Schwab, Casago founder/CEO. “We’re excited to merge with Vacasa, a company that shares our dedication to excellence. Together, we will strengthen our ability to deliver consistent service quality on a global scale, leveraging our combined resources and expertise to better serve our homeowners, guests and partners.”

Vacasa CEO Rob Greyber added, “This merger is a natural next step in Vacasa’s journey over the past year, sharpening our focus on owners, guests, and our local teams that take care of them every day. By combining with Casago, a company that shares our vision of locally empowered, homeowner-focused property management, we’re accelerating our progress on that path. We are pairing national scale with local expertise, empowering entrepreneurial teams to set a new standard in vacation rental property management.”

In addition, Roofstock, a proptech platform, plans to invest in and provide strategic guidance to the combined company, leveraging its decade of experience using technology to enhance property management capabilities, customer experience and liquidity for residential property investors. Roofstock has helped more than 300,000 property owners with nearly 1 million units optimize the performance of their rental properties.

“We are excited to be a part of what we believe should be the category-defining company in the vacation rental space,” said Gary Beasley, cofounder/CEO, Roofstock. “This investment is consistent with our mission of expanding beyond our historical focus on long-term single-family rentals to help power the broader residential investment ecosystem for investors large and small.”

Further operational and organizational details will be announced following the closing of the transaction.

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