Home dating industry Exclusive: NuCom from ProSieben to acquire Meet Group – sources

Exclusive: NuCom from ProSieben to acquire Meet Group – sources

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(Reuters) – German broadcaster ProSiebenSat.1 Media SE’s PSMGn.DE Ecommerce group NuCom Group to close deal to acquire Meet Group Inc ME TOO which could value the US developer of dating apps at more than $ 500 million, people familiar with the matter said on Wednesday.

NuCom, whose holdings include online dating site eharmony, could finalize a deal to buy Meet Group as early as Thursday, when ProSieben releases its fourth quarter results, the sources said.

There is always the possibility that negotiations for the deal will fail at the last minute or be delayed, one of the sources said.

The sources asked not to be identified because the case is confidential. ProSieben declined to comment, while Meet Group did not respond to a request for comment.

Shares of Meet Group jumped 20% to $ 6.64 on the news.

Based in New Hope, Pa., Meet Group is a maker of internet apps that enable live broadcasts and text chats, including MeetMe, LOVOO, Skout, Tagged, and Growlr.

Meet Group struggled to challenge dominant US dating app developer Match Group Inc MTCH.O. It is focused on expanding its live streaming platforms, modeled on the video products offered by Asian dating app providers.

ProSieben turned to NuCom to diversify its former free-to-air TV business and expand its internet and social media portfolio. NuCom covers the dating site Parship, the energy price comparison portal Verivox and Jochen Schweizer, which sells vouchers for “experiences” like tandem skydives.

In 2018, the investment firm General Atlantic acquired a 25.1% stake in NuCom from ProSieben for a valuation of 1.8 billion euros ($ 2 billion). She slightly increased her participation in 2019.

Reporting by Klaus Lauer in Berlin, Arno Schuetze in Frankfurt and Greg Roumeliotis in New York; Editing by Tom Brown and Leslie Adler


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