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.Many members don't specify exactly what type of person they are looking for, so you will probably see many people who don't seem very fussy who they meet!A table at the bottom points to what type of relationship they are looking for, what age and status of a potential mate.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.
Since then, it has continued to grow with estimated revenue for 2006 reaching £11 million this year.
Meetic offers its service in 12 different languages across 14 European countries together with China and Brazil.
The acquisition of Dating will provide Meetic with an entry to the UK market and will strengthen its dominant position in the European market.
The UK’s leading online dating agency Dating and its sister company Chemistry are to be sold to the European sector leader Meetic in a deal worth £27.3 million.
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.