(Yicai Global) March 6 -- Leading Chinese gaming company Beijing Kunlun Tech is poised to make a USD360 million profit from selling Grindr, a popular gay-dating app it has owned for four years, to a group of investors.

The Beijing-based firm plans to sell a 98.59 percent stake in Grindr held by its unit Kunlun Group to San Vincente Acquisition for about CNY4.2 billion (USD609 million), it said in a statement today. San Vicente was set up on Feb. 19 specially for this deal. No financial details about it are available.

Kunlun Tech's board has approved the divestment requested in an agreement with US authorities last May because of concerns about personal data privacy. The deal requires Kunlun Tech to sell before June 30 this year.

Kunlun bought 61.5 percent of Grindr in January 2016 for USD93 million and paid USD152 million for the rest of the company in July 2017.

Grindr's users are mainly in Europe and the US, with over 80 million registered in 196 countries and regions at the end of 2018, when the number of its monthly active users reached 10 million. The firm had a net loss of CNY28.8 million (USD4.16 million) in 2018 on revenue of about CNY572 million.