MEETIC Acquires Massive Media, the Company behind Twoo.com
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http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20121221:nBw215642a BOULOGNE-BILLANCOURT, France--(Business Wire)-- Regulatory News: 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 development strategy: * 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 expertise. 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 - ISIN: FR0004063097 2012 annual sales and results will be published on 6th February 2013, before market 1 according to comScore Meetic Finance department Stéphanie Pardo NewCap. Investor relations Pierre Laurent Axelle Vuillermet Tel.: +33 (0)1 44 71 94 94 firstname.lastname@example.org Copyright Business Wire 2012
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