IAC’s Dotdash digital arm has announced plans to acquire Meredith Corporation in an all-cash transaction at a purchase price of $42.18 per share, valuing the deal at about $2.7 billion.  Meredith’s digital and magazine portfolio of over 40 brands, which includes PEOPLE, Better Homes & Gardens, InStyle and REAL SIMPLE, will join IAC’s Dotdash digital publishing arm which reaches over 100 million consumers through its 14 online publications including Brides, Verywell, The Spruce and Byrdie. The merged business, Dotdash Meredith, will be led by Dotdash CEO Neil Vogel and is expected to make the enterprise one of the largest publishers in America, reaching 175 million online consumers monthly, 95 percent of which are U.S. women.

The transaction is expected to close by the end of the year.