Match.com has made a number of smart business moves recently. Today they continue the trend, announcing the acquisition of People Media for $80 million in cash.
Broad-based online dating site Match.com is buying into the targeted subscription dating business with the acquisition of People Media from private equity firm American Capital Ltd. and various investors for $80 million in cash. The deal will add 27 dating sites with a combined 255,000 paying subs to the IAC (NSDQ: IACI) unit, including BlackPeopleMeet.com, LDSPlanet.com, SingleParentMeet.com, SeniorPeopleMeet.com.
Spark Networks put on a nice dress and was asked to the dance, but Match went home with People Media. That has got to sting. How long until IAC buys Yahoo Personals?
I’ll dig into the details of the deal in a future post.