IAC/Interactive’s Match.com acquires Singlesnet dating Web site
By APThursday, February 25, 2010
Match.com acquires Singlesnet dating site
DALLAS — Online dating site Match.com said Thursday that it will acquire rival Singlesnet.
Terms of the transaction weren’t disclosed.
Match, which is owned by IAC/InterActive Corp., said it believes it can reverse declining traffic trends at Singlesnet, increase the site’s profitability and improve the overall user experience.
“This is more of a value acquisition than a strategic one, and Singlesnet will predominantly be run as a standalone business,” Match CEO Greg Blatt said in a statement.
Adrian Ong, who joined Match.com from Soulmates Technology, a company acquired by Match.com in 2002, will assume responsibility for Singlesnet. Ong most recently led Match.com’s effort to transition its European business to Meetic in connection with its sale last year.
Singlesnet founder and CEO Quinn Lipin will continue to work for the company in an executive capacity.
IAC shares climbed 24 cents to $22.34 in afternoon trading Thursday.
