RCS - Cupid PLC - Acquisition of IndianDating.com
Date: |
14 February 2011 |
On behalf of: |
Cupid plc ('Cupid', the 'Company' or the 'Group') |
Embargoed until: |
0700hrs |
Cupid plc
Acquisition of IndianDating.com
The Board of Cupid plc (AIM: CUP), a leading UK online dating company, is pleased to announce that it has acquired IndianDating.com and several related domains for a total consideration of USD 200,000.
IndianDating.com's activity is mainly focused on the Indian community in North America. The sites being purchased have approximately 600,000 dating and matrimonial site members with the potential for significant expansion: according to the American Community Survey of the US Census Bureau, the Asian Indian population in the United States was 2,570,000 in 2007 and had grown at 53% since 2000 - the highest for any Asian American community, and among the fastest growing ethnic groups in the United States.
The sites will continue to offer the same service but will be moved over to the Cupid plc platform. The sites' former owner will provide ongoing consultancy to Cupid plc for several months.
The acquisition further enhances the Company's position as a niche dating consolidator and represents an additional foothold in the North American market.
Bill Dobbie, Chief Executive of Cupid plc, said:
"We are very pleased to add IndianDating.com to our growing portfolio of dating websites. As a niche site, the domain fits in very well with our existing portfolio and the acquisition represents our increasing presence in the North American market and growing international focus."
For further information please contact:
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Cupid plc |
Tel: +44 (0)131 220 1313 |
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Bill Dobbie, CEO Mark Doughty, CFO
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|
|
Peel Hunt (Nominated Adviser and Broker) |
Tel: +44 (0)207 418 8900 |
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Richard Kauffer Daniel Harris
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Redleaf Polhill |
Tel: +44 (0)207 566 6700 |
|
Henry Columbine Luis Mackness |
Notes to Editors
§ Cupid plc (formerly Easydate plc) listed on AIM in June 2010 and is a leading provider of online dating services
§ Cupid has built a base of over 13 million registrants and over 9 million members in 29 countries (those countries with over 1,000 members), with a growing proportion of members coming from outside of the United Kingdom.
§ Cupid offers a wide variety of online dating services allowing members to interact with each other and access the content available on the Group's websites. These websites are intended to appeal to dating users of diverse ages, cultures and social interest groups. The Group's most heavily visited websites include www.cupid.com, www.flirt.com, www.benaughty.com, www.girlsdateforfree.com and www.datetheuk.com. The Group also promotes the niche brands www.datingforparents.com, www.speeddater.com and www.maturedating.co.uk.
§ The majority of services are also available via Apple and Android App Stores for mobile users as well as through their own Facebook apps - eg. http://apps.facebook.com/cupidcom and http://apps.facebook.com/benaughtynow.
§ Further information on the Company can be found at www.cupidplc.com.
This information is provided by RNS
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