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IAC (IACI) Closes Purchase Of Datehookup

 August 31, 2012 10:00 AM
 

(By Balachander) IAC/InterActiveCorp. (NASDAQ:IACI), an Internet company whose brands include Match.com and Ask.com, has closed the acquisition of online dating site DateHookup.com for an undisclosed amount.

New York-based IAC, formerly known as InterActiveCorp, said DateHookup will join its portfolio of online dating businesses, which generated more than $500 million in revenue in 2011.

Founded in 2002, DateHookup has over a million unique visitors every month. 

Lance Barton, Vice President of M&A for IAC said DateHookup has built a sizable and active community of online singles in the U.S., reaching demographics and markets that complement its existing online dating companies.

IAC's network of sites has over 954 million total monthly visits with more than 307 million unique visitors, according to the company website.

IAC shares were trading 0.25 percent lower at $51.76 on Friday.


Rich
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