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.

Ithaca Holdings was identified as the prospective buyer during those earlier discussions. The holding company was founded by Silicon Valley executives Ravi Gupta and John Hegeman.

Bumble owns the Bumble, Badoo and BFF platforms and went public on Nasdaq in February 2021 under the ticker BMBL. The definitive agreement replaces the earlier discussions, which had not included a confirmed offer price, completed transaction or closing timetable.

The acquisition remains subject to the agreement’s closing conditions.