Acquisition of Cupid.com
22 9월 2010 - 3:00PM
UK Regulatory
TIDMEZD
RNS Number : 0768T
Easydate plc
22 September 2010
+-------------+----------------------------------------------------+
| Date: | 22 September 2010 |
+-------------+----------------------------------------------------+
| On behalf | Easydate plc ('Easydate', 'the Group' or 'the |
| of: | Company') |
+-------------+----------------------------------------------------+
| Embargoed | 0700hrs |
| until: | |
+-------------+----------------------------------------------------+
Easydate plc
Acquisition of Cupid.com for USD 6.6 million (GBP4.4 million)
Easydate plc (AIM: EZD), the internet-based dating operator, is pleased to
announce its first significant acquisition post-listing, with the purchase of
Cupid.com Inc. from OnTargetJobs Inc. ("OnTargetJobs").
Easydate is paying a total purchase price of USD6.6Million (GBP4.4million) in
cash for Cupid.com Inc which owns the Cupid.com website and a number of other
associated domains.
Previously Easydate has operated Cupid.com outside the USA and Canada under a
licence from OnTargetJobs. The revenues and profits from this operation have
been growing significantly and the Company was keen to secure full ownership of
the domain both to protect its existing revenue stream and also allow Easydate
to own and grow Cupid.com revenues in the USA and Canada.
Cupid.com Inc generated revenue of GBP1.3m and EBITDA of GBP0.5m in the year
ended 31 December 2009. It is expected that the Cupid.com business will be
break-even between now and 31 December 2010 as Easydate starts to increase
online marketing spend.
Cupid.com has been focused towards generating subscribers and revenue through
partnership deals with a number of radio stations throughout North America. This
acquisition will allow Easydate to re-energise the Cupid.com service within
North America, and when combined with the on line marketing programmes of our
other American sites, will greatly enhance growth in both the US and
internationally.
Commenting on the acquisition, Bill Dobbie, Chief Executive of Easydate, said:
"This acquisition and our results today show that we are executing our plans to
grow both organically and acquisitively. Bringing Cupid.com's domains into our
portfolio will enable us to gain an improved foothold in the North American
market.
Following our successful license of the Cupid.com brand outside North America,
today's acquisition allows us to secure and grow Cupid.com globally"
For further information please contact:
+--------------------------------------+------------------------+
| Easydate plc | Tel: +44 (0)131 220 |
| | 1313 |
+--------------------------------------+------------------------+
| Bill Dobbie, CEO | |
+--------------------------------------+------------------------+
| | |
+--------------------------------------+------------------------+
| Cenkos Securities plc | Tel: +44 (0)131 220 |
| | 6939 |
+--------------------------------------+------------------------+
| Ken Fleming | |
+--------------------------------------+------------------------+
| Beth McKiernan | |
+--------------------------------------+------------------------+
| | |
+--------------------------------------+------------------------+
| Redleaf Communications | Tel: +44 (0)207 566 |
| | 6700 |
+--------------------------------------+------------------------+
| Paul Dulieu / Henry Columbine / Mike | easydate@redleafpr.com |
| Ward | |
+--------------------------------------+------------------------+
Notes to Editors
* Easydate plc listed on AIM in June 2010 and is a leading provider of online
dating services.
* Easydate has built a base of over 13 million registrants and over 9 million
members in 29 countries (those countries with over 1,000 members), with a
growing proportion of members coming from outside of the United Kingdom.
* Easydate offers a wide variety of online dating services allowing members to
interact with each other and access the content available on the Group's
websites. These websites are intended to appeal to dating users of diverse ages,
cultures and social interest groups. The Group's most heavily visited websites
include www.benaughty.com, www.cupid.com, www.girlsdateforfree.com and
www.datetheuk.com. The Group also promotes the niche brands
www.datingforparents.com, www.speeddater.com and www.maturedating.co.uk
* Further information on the Company can be found at www.easydategroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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