The online dating company Match Group Inc. has reached an agreement to acquire South Korean social media company Hyperconnect for $ 1.73 million, expanding its services beyond connecting people in their love lives.
The cash and stock deal, announced on Tuesday, marks Match Group’s largest acquisition to date.
Seoul-based Hyperconnect has developed two video applications that focus on helping people interact individually and with new communities. Hyperconnect’s first app, Random, offers live video and audio chats and can instantly translate voice and text for users who speak different languages. Hipperconnect’s other app, Hakuna Live, is a social live streaming app that provides group video and audio streams.
The apps extend Dallas-based Match Group software offerings to include occasional friend links. Match operates several dating apps, including Tinder, Hinge and OkCupid, as well as its namesake brand.
The pandemic has fueled the demand for apps that help people connect. Rival dating app company Bumble Inc. is preparing a public listing with an estimated valuation of between $ 6,000 and $ 8 billion.