09.02.2021 23:25:41
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Match Group To Buy Hyperconnect For $1.725 Bln
(RTTNews) - Match Group Inc. (MTCH) Tuesday said it will acquire South Korean video technology company Hyperconnect for $1.725 billion in cash and stock.
The deal is expected to close in second quarter pending customary regulatory approvals.
Hyperconnect is a video technology company based in Seoul, South Korea that operates two flagship apps: Azar and Hakuna Live.
Azar is the highest grossing 1-on-1 live video and audio chat app globally, allowing users to connect seamlessly with others from around the world. Hakuna Live is an interactive, social live streaming app that enables group video and audio broadcasts with various features including virtual gifting, AR powered avatars, profile enhancements, and communities built around shared interests.
Hyperconnect generated over $200 million in revenue in 2020, a 50% increase from 2019.
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