Earlier this week, online internet dating service Match.com, announced that it intends to launch a voluntary public tender offer for all of the outstanding shares of Meetic S.A. Match.com acquired about 27% of the outstanding shares of Meetic through its European business unit in 2009.
On the internet, in the competitive world of paid and free online dating services, Match.com has risen as a leader. Many consider it one of the best online dating services on the internet due to its advanced technology which applies an algorithm to the user profiles to come up with exceptional matches.
Match.com was the original dating website and pioneer of the online dating industry. Founded in 1995, over its 15 year span, Match.com has been responsible for more dates, relationships and marriages than any other website.
Included in the company’s comprehensive online dating services are Chemistry.com, Singlesnet and People Media’s 27 targeted websites such as BlackPeopleMeet.com and SeniorPeopleMeet.com. The company operates its online dating sites in 25 countries and is supported in 8 languages.
In the last year Match.com had had record growth with core revenue increasing by 18% to $93.3 million, boosted by a 22% increase in subscribers, in first quarter 2011.
“Today we are announcing a big step forward in strengthening our partnership with Meetic and aligning the companies for even greater growth,” said Greg Blatt, CEO of IAC. “We believe people will increasingly meet online, and increasing our ownership stake allows us to leverage our commitments to product, marketing and technology innovation in the space across Europe. Meetic has done a fantastic job realizing the synergies from the 2009 merger, and now we believe we can apply the same lessons learned in revitalizing Match.com’s growth trajectory in the U.S. beginning in 2009.”
As part of the public offering the shares of Meetic are being offered at a price of euro 15.00 per share in cash, which represents about an 11.6% improvement on the closing price of Meetic shares on May 27, 2011. The company plans to file the public offer in the next few weeks.
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