Match Group (NASDAQ: MTCH) is getting its walking papers. Parent company IAC/InterActiveCorp (NASDAQ: IAC) said it had reached a definitive agreement to completely spin off its 80% stake in the dating site, a deal that had been approved by the board of directors of both companies.
It brings to a conclusion a story arc that is familiar to IAC shareholders, as the tech holding company regularly incubates businesses before spinning them off. Among other companies IAC has shepherded through the process are Expedia, HSN, and LendingTree. It also plans to spin off ANGI Homeservices once the Match deal is done.
The question for investors is whether Match Group stock remains a buy after the spinoff is complete.