Business
Match Group Closes Acquisition of Hyperconnect
Expands company's reach across Asia and brings cutting edge, real-time video, AI, and AR avatar technology to the portfolio DALLAS and SEOUL, South Korea,
About this update from Match Group, Inc.
[{"type":"text","content":"Expands company's reach across Asia and brings cutting edge, real-time video, AI, and AR avatar technology to the portfolio\n\n\nDALLAS and SEOUL, South Korea, June 17, 2021 /PRNewswire/ -- Match Group (NASDAQ: MTCH) announced today it has completed the acquisition of Hyperconnect, a leading social discovery and video technology company. The $1.725 billion transaction was completed 50% in cash and 50% in Match Group stock.\n\n \n \n \n \n \n \n\n \n\"Hyperconnect's forward-looking technology has already forged new ways for the next generation to make friends and engage with new people, regardless of borders and language barriers,\" said Shar Dubey, CEO of Match Group. \"Our immediate goal is to accelerate Hyperconnect's growth, while deploying their technology across our portfolio, helping to ensure people around the world have access to the best products to meet new people, and create joyful connections.\"\nBased in South Korea, Hyperconnect employs more than 400 people, of which approximately half are top-tier engineers, and operates two social discovery apps: Azar® and Hakuna Live™. Azar® offers 1:1 live video and voice chat with a strong presence across Asia and growing in Europe. Hakuna Live™, which launched in 2019, provides one to many or group live video, audio, and avatar-based streaming with a highly engaged user base in South Korea, Japan and other markets across Asia. \n\"We're thrilled to start capturing the huge synergy potential between Hyperconnect and Match Group's portfolio of world-class brands,\" said Sam Ahn, CEO of Hyperconnect. \"We see clear pathways to turbocharge Hyperconnect's growth while adding value to Match Group through our unique technology.\"\nAbout Match Group\nMatch Group (NASDAQ: MTCH), through its portfolio companies, is a leading provider of dating services available globally. Our portfolio of brands includes Tinder®, Match®, Meetic®, OkCupid®, Hinge®, Pairs™, PlentyOfFish®, and OurTime®, as well as a number of other brands, each designed to increase our users' likelihood of finding a meaningful connection. Through our portfolio companies and their trusted brands, we provide tailored services to meet the varying preferences of our users. Our services are available in over 40 languages to our users all over the world.\nAbout Hyperconnect\nHyperconnect is a global video, AI and AR technology ...