Given that research shows that users away from social knowledge programs have a tendency to play with more than one meanwhile, and you will offered MeetMe and you will Skout display lower than 5% overlap among their month-to-month productive affiliate foot, we believe there was a clear mix-promotional benefit ranging from programs. The new geographic blend is additionally subservient: when you are Skout’s premier nation, such as for example MeetMe’s, ‘s the You, Skout is over 80% globally and skews even more on China, in which MeetMe possess over the years got absolutely nothing presence.
David Clark, Chief Financial Manager regarding MeetMe, extra, “I anticipate the acquisition to close off for the October of the year in order to feel accretive in order to earnings also to make additional totally free cashflow getting MeetMe in the first 12 months following closure and beyond. Over the years, we feel that as a consequence of even more synergies of merging our tech platforms, optimizing all of our monetization engine, cross-creating to each member foot, and you will increasing MeetMe’s international monetization, we can create additional value out of this acquisition.”
Canaccord Genuity is serving as the financial mentor and you can Morgan, Lewis & Bockius LLP was helping given that legal services so you can MeetMe.
MeetMe Chairman John C. Abbott revealed his have a glance at the weblink resignation, energetic instantly, to focus on his business interests for the Mexico and you can Brazil. “I am thrilled to discover Skout join the MeetMe portfolio,” Abbott told you. “We have been record Skout for a long time as they are delighted by the size and you will proportions created by which combination. Read More
