The company that owns Match.com has increased its stake in Meetic.com, by purchasing all remaining shares of co-founder Marc Simoncini.
IAC announced today they are increasing their ownership of Meetic from 80.8% to 87.5%, in a deal of around €29.5m.
Meetic is Europe’s leading online dating site, operating in 15 countries and 11 languages.
The site was first partnered with Match in 2009, when it bought Match’s European operations.
This deal included IAC gaining 27% of Meetic’s shares.
Then in 2011, IAC gained control of Meetic by increasing their stake in the company to 77.6%.
The shares bought today represent 6.7% of Meetic’s capital, and increases IAC’s stake to 87.5%.
Marc Simoncini, who founded Meetic in 2001, no longer owns any shares in the company and has resigned from the board of directors.
Greg Blatt, CEO of IAC, said: “As the founder of Meetic, Marc has made invaluable contributions to the company.
“We appreciate what a great partner he has been since we first joined with Meetic in 2009, and are looking forward to our next stage of stewardship of the company.”
IAC is a leading media and internet company which owns over 150 brands that include Ask.com, About.com, OkCupid.com, Match.com and Vimeo.com.