BUSINESSWIRE - Mar 5 - The Meet Group shareholders will receive $6.30 per share in cash. The deal is expected to close in the 2nd half 2020. NuCom Group is a joint company owned by of ProSiebenSat.1 and General Atlantic's. NuCom's portfolio, under Parship Group, currently includes Parship, Elite Partner and eharmony. The purchase price represents a 30% and 43% premium to the unaffected 30 and 60 trading day volume weighted average price.
Geoff Cook, CEO of The Meet Group said. "This transaction will allow us to tap new strategic growth opportunities by leveraging our video platform and ProSiebenSat.1's experience with content and entertainment. What's more, with this transaction and the participation of both General Atlantic and ProSiebenSat.1, we will achieve a new level of financial scale and backing, which has the potential to further accelerate our growth."
Max Conze, CEO, ProSiebenSat.1 Media SE said, "The acquisition of The Meet Group is one of ProSiebenSat.1's largest transactions. It will significantly advance our ambition to create one of the leading global players in online dating and interactive live video. We believe the combination of these two successful and complementary businesses will also create synergies within the ProSiebenSat.1 universe and accelerate the growth of our market share in the German live video apps sector."
Tim Schiffers, CEO Parship Group said: "Following a successful acquisition of eharmony, we have proven that we can manage new businesses and accelerate their growth by combining the best of both worlds."
Mark Brooks: The Meet Group is a wonderful fit. Great news for the industry. The dating industry is heating up again. (Full Disclosure: The Meet Group are a client of Courtland Brooks, and I own shares)
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