IAC Acquires DateHookup, Terms Not Disclosed
IAC (Nasdaq: IACI) today announced it has completed the acquisition of one of the largest ad-supported online dating sites in the United States, DateHookup.com. Through the acquisition, DateHookup will join IAC's portfolio of online dating businesses, which generated more than $500M in revenue in 2011. Terms of the deal were not disclosed.
"DateHookup has built a sizable and active community of online singles in the U.S., reaching demographics and markets that complement IAC's existing online dating companies. We can leverage our expertise and initiatives from our other sites to drive incremental contribution, improving an already attractive acquisition multiple," said Lance Barton, Vice President of M&A for IAC. "This aligns with our strategy of acquiring companies where we can add real value and create long-term growth."
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