Momo has agreed to pay $601m in cash and approximately $160m in stock, allowing YY and Bertelsmann to exit dating and meeting app Tantan.
Social media company Momo agreed today to acquire China-based social engagement platform Tantan for about $760m, allowing media group Bertelsmann and social network operator YY to exit.
The transaction will consist of $601m in cash and 5.3 million newly issued shares of YY that would equate to $162m based on its closing price on Nasdaq yesterday. The deal would give Tantan’s shareholders a 2.7% stake in Momo.
Tantan runs a social meeting app that operates through a swipe-left-or-right mechanism that…
