AAP - July 1 - DateTix Group will buy Hong Kong, Singapore and UK-based online dating platform Lovestruck for 2M shares and an earn-out consideration of $270K. The purchase will increase DateTix's active user base by 259%. Lovestruck had revenues of $2.3M in 2015, with 96% coming from recurring membership subscriptions. The company will look to localise Lovestruck for the Chinese market, whilst launching DateTix into Europe via Lovestruck's UK footprint.
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Summarized by the Courtland Brooks team
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