Authorization Group Announces Strategic Decision to Expand in Asia, U.S. Through M&A

MALTA, May 17, 2019 /PRNewswire/ --A Group, managed by SOL Networks, is an umbrella brand for more than 15 projects, including, Lovinga, Tubit and TripToghether and many others a?? has announced that it is looking to acquire dating companies in Asia and the U.S. The strategic decision to expand its global footprint through M&A was made during its Spring 2019 Board meeting in Malta. The group is rapidly growing its inorganic investment strategy and is looking to partner with early - and late-stage companies in online dating, social interaction and live streaming markets. The deals will be announced in the near future.The U.S. market continues to be the leader in the world of online dating, generating nearly $800 million of revenue. Meanwhile, developing markets like those in Asia offer significant growth potential. According to Statista, the online dating market tallies $426 million in Asia and is expected to grow by nearly 7 percent through 2023. Group's strategic deals offer a pathway to capturing some of that growth."Countless dating startups have popped up in recent years and we are eager to find ones that are a good fit for Group's ambitious goals," Alla Gubenko, board director in Group, said. "Our key markets are Asia and the U.S., for their growth potential. We'd love to make deals with companies targeting those areas in creative ways."About Group Group is a global social discovery platform, enabling people from around the globe to connect through the power of shared interests and mutual benefits. Group has offices in seven countries and a team of more than 500 professionals with more than 73 million registered users across the entire portfolio. Our brands include, DateMyAge, LovingA, Tubit, AnastasiaDate, ChinaLove, and many more, each with a unique platform tailored to different communities defined by interest, geography and demographics.About SOL Networks
SOL Networks is an international Internet-holding company headquartered in Malta and specializing in the creation and promotion of the websites, where people from different countries can expand their social and business connections: to learn, to communicate, to find friends for travel companions, to play online games and learn foreign languages.A Group Announces Strategic Decision to Expand in Asia, U.S. Through M&A
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