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IAC’s Buys Dating Site Singlesnet

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IAC’s is making another acquisition — this time buying up Singlesnet, which as of January was the 11th largest dating site in the world by unique visitors. In a release, describes the deal as “more of a value acquisition than a strategic one” and notes that Singlesnet’s traffic is on the decline; comScore (NSDQ: SCOR) figures show that traffic to Singlesnet was down 27 percent in January, compared to the same month a year ago. “We believe that by applying our category expertise we can reverse that trend, increase the site’s profitability and improve the overall user experience,” says CEO Greg Blatt.

Like, Singlesnet is a general, subscription-based dating site. It had just over 3 million unique visitors last month. By contrast, Match’s flagship had 5 million.

This is Match’s first acquisition since it bought People Media — the owner of 27 targeted dating sites, including BlackPeopleMeet, SingleParentMeet and SeniorPeopleMeet — for $80 million in July. IAC (NSDQ: IACI) has also expressed an interest in buying Yahoo (NSDQ: YHOO) Personals but so far nothing has come of that.

Financial terms of this deal are not being released.