The Match Group Agrees To Buy PlentyOfFish For $575 Million

Ahead of its initial public offering, the dating product provider The Match Group announced Tuesday that it has a definitive agreement to buy dating site PlentyOfFish for $575 million in cash. The Match Group is a subsidiary of IAC and includes Match, Tinder and OkCupid. IAC said at that the end of June that it would be seeking an initial public offering. The deal is expected to close at the beginning of the fourth quarter. Shares of IAC have gained 15% in the last three months above the S&P 500's gain of 0.2%.