The online startup company Match Group Inc. reached an agreement to acquire South Korean social media company Hyperconnect for $ 1.73 billion, broadening its services in addition to connecting people in their love lives.
The cash-and-stock deal, announced Tuesday, is Match Group’s largest acquisition to date.
Hyperconnect, based in Seoul, has developed two video applications that focus on helping people interact and interact with new communities. Hyperconnect’s first app, Azar, offers live video and audio chats and can instantly translate voice and text for users who speak different languages. Hyperconnect’s other app, Hakuna Live, is a social streaming app that offers group video and audio broadcasts.
The programs broaden the software offerings of Match Group based in Dallas, and also include casual friends. Match operates several dating apps, including Tinder, Hinge and OkCupid, as well as its namesake brand.
The pandemic has sparked demand for programs that help people make contact. The competitive company Bumble Inc. is preparing a public listing with a valuation of between 6 and 8 billion dollars.