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“This is a high growth market and there is massive potential to increase revenue further through added value premium services.
The acquisition will provide Meetic with a very strong foothold in the UK market and provide its existing operation with a greater critical mass”.
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The transaction should be completed in January, once the remaining conditions have been fulfilled.
Founded in 1999 by the current owners Darren Richards and Andrew Pike, Birmingham-based Dating has experienced rapid growth and now has over 4.5 million members, with nearly 3.5 million of them in the UK.
Meetic offers its service in 12 different languages across 14 European countries together with China and Brazil.
These features let you get into the online dating action quickly and give the site a fun and flirty vibe.
“This is an exciting time in the online dating market, and we are pleased that Dating is about to join forces with Europe’s leading online dating business.
We are confident that Dating will continue to go from strength to strength under the ownership of Meetic, who are able to provide the experience and resources required to consolidate Dating Direct’s position as market leader”.
In addition, Dating Direct provides a third party dating service to almost 20 other organisations, including broadcaster Channel Four, internet service provider AOL, radio station Heart FM and multi-media service provider ntl.
Quoted company Meetic, based in Boulogne, France, has, since its launch in 2001, established itself as Europe’s leading online dating service with a well recognised brand and more than 25.4 million registered members.
IM and video chat also mean that you can’t hide forever behind an old photograph and witty email exchange.