IAC's Match.com to Acquire People Media from American Capital
July 07 2009 - 8:30AM
PR Newswire (US)
NEW YORK, July 7 /PRNewswire-FirstCall/ -- Today Match.com, an
operating business of IAC (NASDAQ:IACI), announced that it has
signed an agreement to acquire People Media, a leading operator of
targeted dating sites, from American Capital Ltd. (NASDAQ:ACAS),
funds affiliated with American Capital and other investors. IAC
will pay $80 million in cash for People Media, which had $11.6
million of EBITDA in 2008. The acquisition of People Media will
expand and strengthen Match.com's position in the online dating
space. Match.com is already the leading broad-based site in the
United States, while People Media is the leading operator of sites
focused on specific demographic groups, operating 27 sites
including BlackPeopleMeet.com, SingleParentMeet.com,
SeniorPeopleMeet.com, BBPeopleMeet.com and LDSPlanet.com, with a
combined 255 thousand paying subscribers. "It's clear that some
people are drawn to online communities defined by their own
demographic characteristics, and Josh Meyers, People Media's CEO,
and his team have done a tremendous job of developing and operating
those communities," said Greg Blatt, CEO of Match.com. "We believe
People Media's momentum will continue, and that the combination of
Match.com and People Media can accelerate each business' current
growth trends in a variety of ways, including through the sharing
of product development and online marketing expertise and the
ability to market a broader array of services to the combined
customer base, thereby improving customer acquisition economics for
both companies." "We are thrilled to be joining forces with
Match.com," said Josh Meyers, CEO of People Media. "People Media is
already the leader in targeted dating, and by combining with
Match.com we will accelerate our growth and cement our market
leadership position in this segment." About IAC IAC operates more
than 35 leading and diversified Internet businesses across more
than 30 countries... our mission is to harness the power of
interactivity to make daily life easier and more productive for
people all over the world. To view a full list of the companies of
IAC please visit our website at http://iac.com/. About American
Capital American Capital is a publicly traded private equity firm
and global asset manager. American Capital, both directly and
through its asset management business, originates, underwrites and
manages investments in middle market private equity, leveraged
finance, real estate and structured products. Founded in 1986,
American Capital has $11 billion in capital resources under
management(1) and ten offices in the U.S., Europe and Asia. For
further information, please refer to
http://www.americancapital.com/. (1)As of March 31, 2009. About
Match.com Match.com pioneered online personals when it launched on
the Web in 1995 and continues to lead this exciting and evolving
category after more than a decade. Throughout its 14-year history,
Match.com has helped redefine the way people meet and fall in love.
Match.com provides a rich tapestry of ethnicities, interests,
goals, ambitions, quirks, looks and personalities from which to
choose. Match.com operates some of the leading subscription-based
online dating sites in 24 countries, in 8 languages and spanning
five continents, as well as oversees its ongoing investment in
Meetic. Match.com also powers online dating on MSN across Asia,
Australia, the United States and Latin America. Match.com is an
operating business of IAC (NASDAQ:IACI). About People Media People
Media is the leading provider of targeted online dating
communities, reaching nearly 4 million internet users each month.
The Company operates six of the top 50-ranked personals websites,
as reported by comScore Media Metrix, including
BlackPeopleMeet.com, SingleParentMeet.com and SeniorPeopleMeet.com.
People Media delivers consumers unique value by specializing its
websites based on critical relationship factors including race,
religion, and lifestyle. People Media has partnered with the Steve
Harvey Morning Show and exclusively powers multiple AOL Personals
communities. People Media is a rapidly growing innovator in the
online personals space, which is expected to reach $1.2 billion in
worldwide revenues by 2009 (Jupiter Research). Contacts IAC
Investor Relations: IAC Corporate Communications: Eoin Ryan Stacy
Simpson / Leslie Cafferty (212) 314-7432 (212) 314-7470 / 7326
American Capital: Media Relations Jennifer Burke (301) 968-9400
Match.com: Amy Canaday 214-576-9416 DATASOURCE: Match.com CONTACT:
IAC Investor Relations: Eoin Ryan, +1-212-314-7432, or IAC
Corporate Communications: Stacy Simpson, +1-212-314-7470 or Leslie
Cafferty, +1-212-314-7326; or American Capital: Jennifer Burke,
Media Relations, +1-301-968-9400; or Match.com: Amy Canaday,
+1-214-576-9416 Web Site: http://www.match.com/
Copyright
American Capital Strategies (NASDAQ:ACAS)
Historical Stock Chart
From Mar 2024 to Apr 2024
American Capital Strategies (NASDAQ:ACAS)
Historical Stock Chart
From Apr 2023 to Apr 2024