EZD Easydate

 

TIDMEZD 
 
RNS Number : 0768T 
Easydate plc 
22 September 2010 
 

 
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| Date:       | 22 September 2010                                  | 
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| On behalf   | Easydate plc ('Easydate', 'the Group' or 'the      | 
| of:         | Company')                                          | 
+-------------+----------------------------------------------------+ 
| Embargoed   | 0700hrs                                            | 
| until:      |                                                    | 
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Easydate plc 
Acquisition of Cupid.com for USD 6.6 million (GBP4.4 million) 
 
Easydate plc (AIM: EZD), the internet-based dating operator, is pleased to 
announce its first significant acquisition post-listing, with the purchase of 
Cupid.com Inc. from OnTargetJobs Inc. ("OnTargetJobs"). 
 
Easydate is paying a total purchase price of USD6.6Million (GBP4.4million) in 
cash for Cupid.com Inc which owns the Cupid.com website and a number of other 
associated domains. 
 
Previously Easydate has operated Cupid.com outside the USA and Canada under a 
licence from OnTargetJobs. The revenues and profits from this operation have 
been growing significantly and the Company was keen to secure full ownership of 
the domain both to protect its existing revenue stream and also allow Easydate 
to own and grow Cupid.com revenues in the USA and Canada. 
 
Cupid.com Inc generated revenue of GBP1.3m and EBITDA of GBP0.5m in the year 
ended 31 December 2009. It is expected that the Cupid.com business will be 
break-even between now and 31 December 2010 as Easydate starts to increase 
online marketing spend. 
 
Cupid.com has been focused towards generating subscribers and revenue through 
partnership deals with a number of radio stations throughout North America. This 
acquisition will allow Easydate to re-energise the Cupid.com service within 
North America, and when combined with the on line marketing programmes of our 
other American sites, will greatly enhance growth in both the US and 
internationally. 
 
 
Commenting on the acquisition, Bill Dobbie, Chief Executive of Easydate, said: 
"This acquisition and our results today show that we are executing our plans to 
grow both organically and acquisitively. Bringing Cupid.com's domains into our 
portfolio will enable us to gain an improved foothold in the North American 
market. 
 
Following our successful license of the Cupid.com brand outside North America, 
today's acquisition allows us to secure and grow Cupid.com globally" 
For further information please contact: 
+--------------------------------------+------------------------+ 
| Easydate plc                         | Tel: +44 (0)131 220    | 
|                                      | 1313                   | 
+--------------------------------------+------------------------+ 
| Bill Dobbie, CEO                     |                        | 
+--------------------------------------+------------------------+ 
|                                      |                        | 
+--------------------------------------+------------------------+ 
| Cenkos Securities plc                | Tel: +44 (0)131 220    | 
|                                      | 6939                   | 
+--------------------------------------+------------------------+ 
| Ken Fleming                          |                        | 
+--------------------------------------+------------------------+ 
| Beth McKiernan                       |                        | 
+--------------------------------------+------------------------+ 
|                                      |                        | 
+--------------------------------------+------------------------+ 
| Redleaf Communications               | Tel: +44 (0)207 566    | 
|                                      | 6700                   | 
+--------------------------------------+------------------------+ 
| Paul Dulieu / Henry Columbine / Mike | easydate@redleafpr.com | 
| Ward                                 |                        | 
+--------------------------------------+------------------------+ 
Notes to Editors 
* Easydate plc listed on AIM in June 2010 and is a leading provider of online 
dating services. 
* Easydate 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. 
* Easydate 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.benaughty.com, www.cupid.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 
* Further information on the Company can be found at www.easydategroup.com 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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