Match Group, the proprietor of the world’s hottest relationship app Tinder acquired South Korean tech and social media unicorn Hyperconnect Inc. As the corporate introduced immediately, the Dallas-based tech large paid the mixed $1.73 billion for 100% of its shares.
The acquisition of the South Korean firm is the largest ever deal in Match Group’s historical past. The Nasdaq-listed firm (MTCH) owns and operates the biggest world portfolio of common on-line relationship providers together with Tinder, Hinge and OkCupid.
The importance of Hyperconnect
Launched in 2014, Hyperconnect is an IT firm that develops software program and cellular purposes primarily based on Synthetic Intelligence (AI). The corporate runs two extremely common apps Azar and Hakuna Stay.
Video chat app Azar connects over 100 million world customers throughout 230 international locations. It permits real-time connections for like-minded folks worldwide and immediately interprets their voice or textual content messages into the language they communicate.
Hakuna Stay is an interactive live-streaming app for group broadcasts, that additionally allows digital gifting and augmented reality-powered avatars and profile enhancements. The app has been downloaded greater than 23 million instances since its launch in 2019 and is extremely common in Japan and South Korea.
Hyperconnect has generated over $200 million in income throughout the previous yr, which is a 50% improve in comparison with 2019.
Enlargement to Asian market
Practically 75% of Hyperconnect’s income comes from the Asian market and the acquisition of Hyperconnect permits the world’s largest relationship apps operator to additional increase into it.
The Match Group CEO Shar Dubey mentioned Hyperconncet’s product suite and regional footprint come consistent with Mach Group’s. In accordance with her, extra persons are transferring on-line and in search of richer and deeper experiences, thus Match Group may be making use of new options to its current on-line relationship app portfolio:
We are going to leverage our deep bench of experience to assist speed up Hyperconnect's already-impressive progress, look to deploy Hyperconnect's applied sciences throughout our current portfolio, and proceed to put money into their progress.
The acquisition is available in a time when the dwell steam market is on the rise in Asia as a result of world pandemic. The money and inventory deal is anticipated to be accomplished within the second quarter of 2021.