Match Group Inc. Online Dating Company reached an agreement to acquire the South Korean social media company Hyperconnect for $ 1.73 billion, expanding its services beyond connecting people in their love life.
The cash and stock deal, announced on Tuesday, marks Match Group’s largest acquisition to date.
Seper-based Hyperconnect has developed two video applications that focus on helping people interact individually and with new communities. Hyperconnect’s first application, Azar, offers live video and audio chat and can instantly translate voice and text for users who speak different languages. Hyperconnect’s other app, Hakuna Live, is a live social streaming app that offers group video and audio streaming.
The apps extend Match Group’s Dallas software offerings to include connecting occasional friends. Match operates several dating applications, including Tinder, Hinge and OkCupid, as well as the eponymous brand.
The pandemic has fueled the demand for applications that help people connect. Rival dating app Bumble Inc. is preparing a public list with an expected valuation of $ 6 billion to $ 8 billion.