Private equity giant Blackstone will acquire the pet care app Rover in an all-cash deal valued at $2.3 billion, the companies announced Wednesday. Shares of Rover climbed about 28% on news of the deal, which will pay Rover shareholders $11 per share. Rover shares mostly bounced around under $7 each for most of the year before jumping earlier this month on a strong third-quarter earnings report. Rover was founded in 2011, connecting pet owners with care providers who provide boarding, in-home pet sitting and dog walking, among other services. The Seattle-based company says from its inception through Sept. 30, more than 93 million services have been booked by more than 4 million pet owners with more than 1 million pet care providers paid across North America and Europe.

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Persons: Blackstone, ”, Tushar Gupta Organizations: Blackstone, Rover, North Locations: Seattle, North America, Europe