Month: May 2021

DALLAS BUSINESS JOURNAL – May 26 – As 2019 wound down, executives at Match Group and IAC, agreed that it was time to separate the online dating service provider from its parent company because Match, valued at ~$30B, had grown to be two-thirds of IAC's value. The problem was a traditional spinoff would have created huge tax burdens for IAC shareholders. The team, which included Match Group Chief Legal Officer Jared Sine, agreed that the transaction had to be structured as a "reverse spin-off," which meant that IAC's non-Match assets would be placed into the new publicly traded entity. "This was a massively complex transaction," said Sine. Sine, the Match Group legal department and Debevoise are a finalist for the 2020 DFW Outstanding Corporate Counsel Award for Deal of the Year. The finalists will be celebrated and the winners announced at an in-person ceremony on June 3 at the George Bush Institute. The $30B reverse spin-off was not Sine's only accomplishment in 2020. Last summer, Sine also settled a highly contentious IP lawsuit with Bumble. And he and his team negotiated a $1.725B acquisition of Hyperconnect, a social discovery app based in Seoul, South Korea. Sine made news again last month when he testified for the U.S. Senate Judiciary Committee about anticompetitive practices of Apple and Google regarding their domination of the app platform space.

by Mark Curriden
See full article at Dallas Business Journal

See the top news on Match Group