Venable has co-advised, with Canadian business firm McMillan LLP, client PlentyOfFish Media, Inc on its sale to the Match Group, a subsidiary of IAC, for USD575 million in cash.
The parties have entered into a definitive acquisition agreement and expect to close the transaction early in the fourth quarter.
PlentyOfFish, the Vancouver based online dating site, was founded in 2003 by CEO Markus Frind, and now has over 100 million registered users and over 4 million active daily users.
The transaction is subject to the receipt of the approval from the Minister of Industry pursuant to the Investment Canada Act.
The Venable team was led by Philip von Mehren and Michele Maney of the firm’s New York office and Andrew Pratt of the firm’s Washington, DC office.
The McMillan team was led by Tom Theodorakis and Ryan Black and involved Peter Botz and Sandra Knowler.
