NEW YORK, July 14, 2015 /PRNewswire/ -- The Match
Group, the global operator of digital dating products such as
Match, Tinder, OkCupid and Meetic, and a subsidiary of IAC (NASDAQ:
IACI), announced today that it has entered into a definitive
agreement to purchase PlentyOfFish for US$575 million in cash.
"For over a decade I have followed the consistent growth of
PlentyOfFish, first within North
America, then globally, and most recently across platforms,
as one of the most popular mobile dating products in the world,"
said Sam Yagan, CEO of The Match
Group. "As more people than ever use more dating apps than ever
with more frequency than ever, PlentyOfFish's addition both brings
new members into our family of products and deepens the lifetime
relationship we have with our users across our portfolio. I
look forward to working closely with Markus and extending the
company's impressive growth trajectory."
"We are thrilled to be joining forces with Match,"
said Markus Frind, CEO of PlentyOfFish. "My team and I have
grown PlentyOfFish into one of the leaders in our category,
and I am confident that Match will help accelerate our growth even
further."
The transaction is expected to close early in the fourth quarter
and is subject to the receipt of the approval from the Minister of
Industry pursuant to the Investment Canada Act.
About The Match Group
The Match Group is the world's leading provider of dating
products, redefining the way millions of people meet, date and
start relationships every day. We offer our products under nearly
50 brands, translated into nearly 40 languages and available in
more than 200 countries across five continents. Our principal
brands include Match, Tinder, Meetic, OkCupid and OurTime. We
generate revenues through a combination of subscription,
transaction and advertising models, distributed through desktop and
mobile devices. Each product within our portfolio caters to
different communities defined by geography, demographics and
relationship sensibility. More than 7 million people sign up for
our products every month. The Match Group also operates The
Princeton Review, a business outside the dating space that
leverages the company's experiences in direct-to-consumer digital
service business models. For more information please visit
www.iac.com.
About IAC
IAC (NASDAQ: IACI) is a leading media and Internet company. It
is organized into four segments: The Match Group, which consists of
dating, education and fitness businesses with brands such as
Match.com, OkCupid, Tinder, The Princeton Review; Search &
Applications, which includes brands such as About.com, Ask.com,
Dictionary.com and Investopedia; Media, which consists of
businesses such as Vimeo, Electus, The Daily Beast, Daily Burn and
CollegeHumor; and eCommerce, which includes HomeAdvisor and
ShoeBuy. IAC's brands and products are among the most recognized in
the world reaching users in over 200 countries. The Company is
headquartered in New York City and
has offices worldwide. To view a full list of IAC companies, please
visit www.iac.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities, and shall not
constitute an offer, solicitation, or sale in any jurisdiction in
which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of that
jurisdiction.
Contact Us
IAC Investor Relations
Mark
Schneider / Alexandra
Caffrey
(212) 314-7400
IAC Corporate Communications
Isabelle Weisman
(212) 314-7361
IAC
555 West 18th Street, New York, NY 10011 (212) 314-7300
http://iac.com
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visit:http://www.prnewswire.com/news-releases/the-match-group-to-acquire-plentyoffish-300112611.html
SOURCE IAC/Interactivecorp