On the web company that is dating has consented to sell its “casual dating” business to a company run by certainly one of its co-founders in a deal well worth Р’Р€45.1m.
The Edinburgh-based company stated it had been attempting to sell business to Grendall Investment Limited so that you can give attention to its niche and conventional websites.
The offer includes casual sites that are dating as Benaughty.com and Flirt.com.
In addition includes a software that is separate contract with Grendall, well worth Р’Р€2m.
Grendall, which can be registered within the Uk Virgin islands, owns a portfolio of online sites that are dating is handled by Cupid co-founder and 15% shareholder Max Polyakov.
Cupid continues to operate a wide range of mainstream and niche sites that are dating including Cupid.com, Amour.com, UniformDating.com and Canoodle.com, along with a number of international web sites.
It will likewise continue steadily to run dating activities company Speeddater.com.
Cupid’s share price climbed by a lot more than 16.5percent on to stand at 84.5p monday.
The company said it had decided to sell its “casual dating” sites because they did not fit in with its long-term strategy in a stock market announcement.
It stated: “Cupid plc believes that in niches and main-stream relationship, clients are demanding increasingly top quality and that this is often a fulfilling area for the business to target its efforts.
“by comparison the organization thinks that the casual market customer eventually calls for the prospective to get more adult oriented content and that going towards this end regarding the spectral range of dating just isn’t a route that the organization wants to pursue.
“throughout the previous several years, Cupid plc has increasingly spent M&A (merger and purchase) tasks towards niche community web sites and main-stream online dating sites such as for example UniformDating.com and Cupid.com correspondingly, after http://www.datingranking.net/equestriansingles-review which spent greatly within these websites post purchase. Continue reading