Grindr expands beyond dating with $250 million telehealth acquisition of PurposeMed

Grindr announced on Wednesday that it is expanding further into health care with the acquisition of PurposeMed, the parent company of HIV prevention telehealth provider Freddie, in a deal worth $250 million. The LGBTQ-focused dating platform will pay $190 million in cash and $60 million in Grindr common stock, according to the terms of the agreement. The agreement also includes up to $70 million in additional cash consideration tied to Freddie's performance in 2027, payable in 2028. The acquisition is expected to close in the fourth quarter. The deal is Grindr's first major acquisition since the company was founded in 2009.