PRESS RELEASE – Ithaca Holdings has agreed to acquire Bumble in an all-cash deal valued at $1.3 billion. Shareholders will receive $6.05 per share, a 138% premium to Bumble’s closing price on October 9. The board approved the deal, and affiliates of Blackstone and founder Whitney Wolfe Herd provided the required shareholder approval. Bumble will become a private company and remain based in Austin, with offices in London and New York. Ithaca co-founders Ravi Gupta and John Hegeman will become co-CEOs, while Wolfe Herd will remain actively involved.
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