Frankfurt, 21 September 2017. The Meet Group (NASDAQ: MEET, hereinafter named вЂњTMGвЂќ), located in brand brand brand brand New Hope, Pennsylvania, United States Of America, acquires 100% of LOVOO GmbH (hereinafter known as вЂњLOVOOвЂќ) for the consideration that is total of 70 million, inclusive of the USD 5 million contingent earn-out. The deal is anticipated to shut in October 2017.
Geoff Cook, CEO of TMG, stated, вЂњWe have become excited to grow our footprint that is global and LOVOO to your profile of apps. LOVOO is our 3rd acquisition that is strategic the past one year and can express our biggest solitary application when it comes to traffic. We have been dedicated to accelerating development across our profile of brands through innovating our live-streaming video clip item and sharing guidelines in monetization and engagement throughout the portfolio.вЂќ ItвЂ™s expected that LOVOO will stay a brand that is separate standalone mobile application after the closing associated with the purchase, which furthers TMGвЂ™s strategy to innovate, obtain, and build the biggest mobile profile of brands for fulfilling brand brand brand new individuals.
вЂњAfter five exciting years we determined that now could be a purchaseвЂќ Benjamin Bak, CEO and Co-founder of LOVOO, proceeded. вЂњWith TMG we found a buyer that perfectly complements LOVOOвЂ™s eyesight and tips. ACXITвЂ™s group of highly experienced M&A professionals was completely dedicated to the prosperity of this deal and did constantly and also at all time get the additional mile for us.вЂќ
ACXIT Capital Partners acted as exclusive economic consultant to LOVOO and its particular investors in this deal.
IN REGARDS TO THE MEET GROUP The Meet Group (NASDAQ: MEET) is just a fast-growing profile of mobile apps made to meet with the need that is universal peoples connection. Utilizing products that are innovative advanced information technology, The Meet Group keeps its around 2.7 million mobile day-to-day active users involved and originates untold amounts of casual chats, friendships, times, and marriages. The Meet Group provides advertisers the chance to achieve clients for a scale that is global vast sums of day-to-day mobile advertising impressions. The Meet Group uses user that is high, economies of scale, and leading monetization methods utilizing the aim of maximizing adjusted EBITDA. Its apps вЂ“ currently MeetMeВ®, SkoutВ®, TaggedВ®, and Hi5В® вЂ“ allow users much more than 100 nations talk, share pictures, flow video that is live and discuss topics of great interest, as they are available on iPhone, iPad, and Android os in numerous languages.
ABOUT LOVOO launched in 2012, LOVOO is a leading dating that is european as well as the biggest German-speaking dating application by packages. The independently held business is dependent in Dresden and Berlin, Germany, and it is obtainable in 15 languages to its 1.9 million mobile day-to-day users that are active. LOVOO modifications peopleвЂ™s life by changing the way they meet through innovative location-based algorithms and radar that is app assisting individuals find effective matches. Find out about LOVOO by going to LOVOO.com, getting the application on iPhone or Android os, subscribing to your LOVOO web log, or after LOVOO on Twitter and Twitter. (www.lovoo.com)
ACXIT Capital Partners is a respected separate corporate finance and investment advisory company for mid-market customers and business owners in Europe and beyond. Since 1998, ACXIT provides its consumers comprehensive business finance advisory services including M&A and money areas advisory in addition to restructuring, equity/debt and strategic advisory. As an unbiased, independently owned company we keep offices and representations in Frankfurt, Berlin, Munich, Leipzig, Zurich, Hong Kong and ny, along with strong alliances in France and Asia. (www.acxit.com)