Match approaches Meet with takeover offer: Bloomberg

(Reuters) – Tinder-owner Match Group <MTCH.O> has approached social networking app developer Meet Group <MEET.O> about a takeover, Bloomberg reported on Thursday, citing people familiar with the matt

No final decision has been made and Match Group could decide to not proceed with a deal, the report noted.

Meet Group, which has been focusing on expanding its live-streaming platforms, has struggled to challenge the dominance of Match Group in the dating domain.

In December, Reuters had reported that German broadcaster ProSiebenSat.1 Media SE’s <PSMGn.DE> e-commerce arm, NuCom Group, was exploring the acquisition of Meet Group.

Shares of Meet Group, whose primary apps include MeetMe, LOVOO, Skout, Tagged and Growlr, surged about 21% to $6.74 after the report, while Match Group shares rose 8.2%.

Match Group declined to comment on the report and Meet Group did not respond to requests for comment.

(Reporting by Devbrat Saha; Editing by Vinay Dwivedi)

tagreuters.com2020binary_LYNXMPEG151RM-BASEIMAGE