Meetic concludes takeover of Cleargay dating site

Meetic, the European leader in online dating, announces the finalisation of the acquisition of FC&CO, the company that publishes Cleargay, the n° 1 gay dating site in France.

The acquisition concerns 60% of FC&CO’s capital and voting rights for 3 mln euros paid in cash. Meetic also holds a firm option on the remaining 40% currently held by the company’s founders, exercisable in four years at a price to be determined in function of FC&CO’s results at the date of the final operation.

For its last financial year to August 31, Cleargay recorded revenues of 750 000 euros, purely in France. The site had 5000 registered subscribers at September 30.

The founders will remain within the Group. The presence within Meetic of an experienced and dedicated team will notably enable the Meetic group’s gay traffic to be optimised, both in France and abroad.
Meetic, the European online dating leader (www.meetic-corp.com), manages nine services (Meetic, Meetic Mobile, Ulteem, Superlol, Lexa, ParPerfeito, Dating Direct, Cleargay and eFriendsNet) and markets two highly complementary economic models on the dating market, one based on internet use, the other on mobile phones. Meetic is established in 15 European countries, as well as in Asia and Latin America, and is available in 15 languages. From inception, the group has pursued a clear leadership strategy focusing on quality, innovative marketing and perfect technological expertise. In 2006, Meetic posted sales of €78.8 mln and net profit of €10.1 mln.