Meetic, the popular European online dating company, announced today that it has agreed to buy the European operations of the IAC-owned Match.com. The news was announced on the blog of Loïc Le Meur, who is a board member of Meetic but will need to resign to leave room for an IAC representative.

IAC will sell 100% of the stock of Match Europe – the entity that houses Match.com’s European operations – for an approximate 27% stake in Meetic, plus a 5 million euro note (which converts to just over $6.33 million). Additional terms of the transaction are not being disclosed.