The Meet Group Announces Acquisition by ProSiebenSat.1 Media SE

- Friday, March 27 2020 @ 10:03 am
- Contributed by: ElyseRomano
- Views: 807

Rumors began to swirl last December that German broadcaster ProSiebenSat.1 Media SE’s e-commerce arm, NuCom Group, had expressed preliminary interest in acquiring The Meet Group. It has now been announced that the companies have entered a definitive agreement to proceed with the acquisition. NuCom will pay $6.30 a share in the deal, putting an enterprise value on Meet Group of approximately $500 million.
Based in Pennsylvania, The Meet Group is a maker of mobile apps that focus on live streaming broadcasts and text-based conversations, including MeetMe, Skout, LOVOO, Tagged and Growlr. NuCom’s holdings include eHarmony, which it acquired in 2018, and the Germany-based dating platform Parship. The Meet Group’s dating brands will be combined with NuCom’s portfolio company Parship Group. The acquisition will help both companies diversify their revenue streams and broaden their combined international footprint.