The Birmingham office of Clearwater International, advised by Midlands’ solicitors HBJ Gateley Wareing, is acting as matchmaker for the deal, after being appointed by Dating Direct.com’s shareholders to advise them on their strategic options.
The transaction should be completed in January, once the remaining conditions have been fulfilled.
The acquisition will provide Meetic with a very strong foothold in the UK market and provide its existing operation with a greater critical mass”.
“Dating Direct has achieved its position as the UK market leader by having an easy to use website that is carefully policed and cleverly promoted through a focused advertising and PR strategy.
Sales have grown 142% a year from £911,000 in 2001 to £5.3m in 2003.
This profile reflects the company at time of publication and does not reflect any changes that may have subsequently occurred.
“The third party white label services have not only increased revenue, but also helped to attract additional members which in turn has boosted the site’s success as the more members, the greater chance of meeting the right person in the right geographical area.
“This is a high growth market and there is massive potential to increase revenue further through added value premium services.