Bumble agrees to be bought by Ithaca Holdings for about $1.3bn
Bumble has agreed to be acquired by Ithaca Holdings in an all-cash deal valuing the dating app at about $1.3 billion, the companies said on Tuesday.
Ithaca will pay $6.05 per Bumble Class A share, about 138% more than the stock’s closing price on October 9, before reporting on Monday that the two sides were in advanced talks.
The deal does not need a shareholder vote. Funds linked to Blackstone and founder Whitney Wolfe Herd have already approved it in writing, giving it the backing it needs, according to a filing with US regulators.
A committee of independent board members reviewed the offer and recommended it. Wolfe Herd, who is Bumble’s chief executive, did not take part in the board vote.
Once the deal closes, Ithaca’s co-chief executives, Ravi Gupta and John Hegeman, will also serve as co-CEOs of Bumble.
Wolfe Herd will stay closely involved, the companies said,...
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