The Match Group, which is made up Match.com, Tinder, OkCupid and Meetic, is adding even more romance to the business with the acquisition of dating website PlentyOfFish for $575 million. The deal comes shortly after the company announced plans to go public.
PlentyOfFish is a free dating website based in Vancouver. Law firm Venable LLP co-advised, with Canadian business firm McMillan LLP client PlentyOfFish on its sale to Match.
Match, a subsidiary of IAC (Nasdaq: IACI), says that more and more people are using dating applications, and that the acquisition brings in more customers. Aside from Match, IAC owns About.com, (which it bought in 2012 for $300 million) Ask.com, Dictionary.com, Investopedia, Vimeo, Electus, the Daily Beast, Daily Turn, CollegeHumor, HomeAdvisor and ShoeBuy.
IAC, the Internet business of media mogul Barry Diller, announced plans in late June to take Match public.
Various tech companies have been acquisition targets recently. In May, Google Inc. (Nasdaq: GOOG), purchased Timeful, a scheduling application. Under Armour Inc., in February, bought applications MyFitnessPal and Endomondo for $560 million.