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China’s Momo Pays More Than $600M For PE-Backed Tantan

Law360 (February 23, 2018, 4:25 PM EST) -- Chinese social and dating app network Momo Inc. said Friday it will take over private equity-backed dating app rival Tantan in a deal worth upward of $600 million.

Momo will pay $600.9 million for Tantan, an app similar to Tinder that is popular with young singles. The deal will also see Momo issue 5.3 million new American depositary shares, Momo said, but the value of the stock was not disclosed.

The acquisition will increase Momo’s reach in the dating app world, adding an entity with 90...
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