MEETIC (MEET - FR0004063097), the European leader in online dating, today announced that it has signed an Agreement for the acquisition of the assets of e-kontakt, owned by Intodate International AB.
Founded in 2005 and headquartered in Norrköping in Sweden, e-kontakt has been one of the leaders on the Nordic scene for online dating, offering its service with high quality to a large customer base. Meetic is only acquiring the assets relative to the brand, the domain names and the user base, via its Swedish subsidiary Match.com Nordic AB, for an undisclosed sum.
Alexandre Lubot, CEO of MEETIC Group, says: “In March we acquired Spraydate, founded 12 years ago and considered as the pioneer of the Swedish Online dating scene. The e-kontakt acquisition will further consolidate the MEETIC Group’s leadership position in Sweden, where we run our online dating services under the Match.com brand name. We know from experience that operational synergies will be rapidly achieved, and will notably allow e-kontakt’s users to be provided with the MEETIC Group’s quality of service and greater chances to meet the people they are looking for.”
MEETIC (MEET - FR0004063097), leader in the European online dating market, announces today the acquisition by Match.com of the remaining 6,7% stake held by Marc Simoncini in Meetic.
Following this acquisition, Match now owns 87,5% of the capital and 88,6% of the voting rights of Meetic. Mr. Simoncini, who no longer owns, directly or indirectly, any Meetic shares, has resigned effective today from Meetic’s board of directors.
Match.com has also announced its intention to launch in the near term a cash simplified public tender offer for all of the outstanding shares of Meetic S.A. at a price of €18.75 per share. The offer price represents a premium of approximately 51% on the closing price of Meetic shares on September 24, 2013.
Match.com has indicated that its intention is to implement a squeeze-out if it holds at least 95% of the capital and voting rights upon completion of the offer. In the event such squeeze-out cannot be implemented, Match.com intends to apply to Euronext Paris for a delisting of the Meetic shares.
SUBSTANTIAL INCREASE IN THE SUBSCRIBER BASE: +156,000 YEAR OVER YEAR
MEETIC (MEET - FR0004063097), the European leader in online dating, today announces its consolidated half-year results as of June 30, 2013, approved by the Board of Directors on July 25, 2013.
Consolidated results to 30th June 2013 (MEETIC + Massive Media)
MEETIC’s results to 30th June 2013 (excluding Massive Media)
MEETIC’s revenue (excluding Massive Media) for the 1st semester of 2013 increased 2% to €83.6 million. MEETIC’s subscribers for the 1st semester of 2013 increased by 8% year over year to 811,065.
Marketing Expense (excluding Massive Media)
Marketing expense totalled €41.2 million for the 1st semester 2013, corresponding to 49% of revenue, compared with €39.0 million or 48% of revenue over the 1st semester of 2012. The increase reflects planned initiatives in the current year period.
Other expenses (excluding Massive Media)
Other expenses increased by €2.5 million excluding cost of free shares from €23.1 million for the 1st semester of 2012 to €25.6 million for the 1st semester of 2013. The increase reflects product development costs and includes a €0.3 million charge in connection with the relocation of the Company’s head offices.
EBITDA margin: 20.1% - EBITDA margin before the cost of free shares: 20.0% (excluding Massive Media)
Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) totalled €16.8 million for the 1st semester ending the 30th June 2013, compared with €19.1 million for the prior year period. The current year period was impacted by the aforementioned increase in marketing expense and product development cost.
Net profit: €10.9 million (excluding Massive Media)
MEETIC’s net profit totalled €10.9 million for the 1st semester ending the 30th June 2013, compared with €11.9 million for prior year period.
MASSIVE MEDIA‘s contribution to MEETIC Group Consolidated results to 30th June 2013
Massive Media, the company behind Twoo.com, was acquired by MEETIC and consolidated in January 2013. Massive Media reached 95,156 subscribers as of June 30, 2013.
Massive Media’s net contribution includes amortization expenses of assets identified through the purchase price allocation of €2,3 million and a non-cash expense corresponding to loss on long term contingent consideration of €4,4 million.
Consolidated Net Cash position: € 53.1 million
At 30th June 2013, the Group had a cash position of €53.1 million, compared with a net cash position of €63.4 million at 31st December 2012.
MEETIC (MEET - FR0004063097), the European leader in online dating, has announced the signature of an agreement to acquire the assets of Pastas Party, the leading French website for singles events. Meetic, which brings together the largest community of singles in France and Europe, will build on the expertise and experience of Pastas Party to enhance its new events service and develop it on a European level. Created in 2007 by Héloïse Dion, Pastas Party has developed a range of singles events across France and runs a community of nearly 100,000 singles.
Meetic consolidates its status as “the maker of meetings”
In December 2012 Meetic successfully launched a complementary service that opened up new opportunities for its members in France and elsewhere in Europe to meet: Meetic Soirées. Already more than 300 Soirées have been organised, bringing together more than 35,000 Meetic members and guests in friendly surroundings close to where they live.
“In order to give Meetic members ever more chances to meet, we wanted to offer a more varied programme of events. We therefore naturally chose to draw on the expertise of a company with an established reputation in the organisation of singles events.” noted Alexandre Lubot, the Meetic Group’s Chief Marketing Officer.
Héloïse Dion will head Meetic Group’s events division
Héloïse Dion and her team will be responsible for creating Soirées in each European country covered by the Meetic group. She will also develop new event concepts to meet the expectations of singles in the Meetic community.
“In just six years we have developed a unique event offering for singles throughout France, from dinners to cookery courses or cocktail workshops. We are therefore delighted to be joining Meetic and to offer these events – and many others besides – to Meetic members and to expand the range of events available to members of Pastas Party.” added the founder of Pastas Party.