Bumble Agrees to $1.3 Billion All-Cash Acquisition by Ithaca

Bumble Inc. has agreed to be acquired by Ithaca Holdings in an all-cash transaction valued at $1.3 billion, extending a sharp rally in the dating-app company’s shares. Bumble shares rose more than 57% in premarket trading Tuesday, Oct. 13, after the acquisition announcement. The stock had already gained 49.61% Monday to close at $3.80. The transaction follows reports of advanced discussions about a potential take-private deal. Bumble’s Monday share surge had pushed the stock up from $2.54 at Friday’s close, with shares reaching as high as $3.98 during Monday’s Nasdaq session.

Source: TokenPost