MEETIC (MEET - FR0004063097), the European leader in online dating,
today announces that it has signed an agreement for the acquisition of
Massive Media, the company behind Twoo.com.
Based in Gent, Belgium, Twoo is a social discovery service; it allows
its users to meet new people via simple, fast and fun features.
Since launching in April 2011, Twoo has leveraged their organic and
viral growth to build a global audience of 9.6 million unique visitors1
in October 2012 and is available in 38 languages worldwide.
The acquisition of Massive Media will accelerate the Meetic Group's
supplements the portfolio of services across Western Europe,
allows Meetic to take a first step into Eastern Europe,
enables the integration of a freemium model and social virality
Pursuant to the acquisition, which should be finalised in early January
2013 once conditions precedent are lifted, Meetic will acquire 100% of
the Company's capital and voting rights for a total price of 18.9
million euros cash, excluding any earn out associated with the Company's
future performance over the coming three years. Massive Media's partners
are all expected to remain operational within the company.
Philippe Chainieux, MEETIC's CEO, says: "Massive Media is an
innovative company that has shown its ability to rapidly develop a
winning freemium model in the social dating sector. This acquisition
consolidates the MEETIC Group's positions with a substantial increase in
the number of users, and in particular mobile users. We were won over by
the quality of Massive Media's teams, and notably its founders Lorenz
Bogaert and Toon Coppens. Their expertise and market vision will provide
substantial value for the Meetic Group which will give all its support
to maximize all the potential of our complementarities."
About Meetic Group, European online dating leader (www.meetic-corp.com):
Meetic manages two services in Europe: online dating and
matchmaking, mainly under the Meetic and Meetic Affinity brands, and
markets two highly complementary economic models on the dating market,
one based on internet use, the other on mobile phones. By acquiring the
European activities of world leader match.com in June 2009, Meetic has
strengthened its first place on the continent. The group is currently
established in 15 European countries, and is available in 11 languages.
From inception, the group has pursued a clear leadership strategy
focusing on quality, innovative marketing and perfect technological
expertise. Meetic works hard to optimize service quality and to satisfy
every possible expectation of its European subscribers.
IAC/InterActiveCorp is Meetic's main shareholder, with an 81% stake.
Listed on Euronext Paris - Compartment B of the NYSE Euronext -
2012 annual sales and results will be published on
February 2013, before market
1 according to comScore
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