Thats one nice payday
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U.S. MemberWorks picks up Lavalife
FROM CANADIAN PRESS
U.S.-based MemberWorks Inc. has bought Canadian online dating services company Lavalife for $152.5 million in cash.
Privately held Lavalife also announced today that senior management will buy $11.9 million in MemberWorks' restricted common shares (Nasdaq: MBRS) when the deal closes.
"With the acquisition of Lavalife, we will be able to broaden the scope of our online marketing presence and gain entry into the large and rapidly growing personals channel," Gary Johnson, CEO of MemberWorks, said in a release.
"Lavalife provides several key elements in extending our business online: a proven business model, expanded demographics, unique and expanding services, key strategic partnerships, and a solid track record."
MemberWorks, based in Stamford, Conn., provides consumer and membership services through affinity marketing and online channels.
Toronto-based Lavalife says it has more than 700,000 customers, principally in the United States, Canada and Australia
Link
U.S. MemberWorks picks up Lavalife
FROM CANADIAN PRESS
U.S.-based MemberWorks Inc. has bought Canadian online dating services company Lavalife for $152.5 million in cash.
Privately held Lavalife also announced today that senior management will buy $11.9 million in MemberWorks' restricted common shares (Nasdaq: MBRS) when the deal closes.
"With the acquisition of Lavalife, we will be able to broaden the scope of our online marketing presence and gain entry into the large and rapidly growing personals channel," Gary Johnson, CEO of MemberWorks, said in a release.
"Lavalife provides several key elements in extending our business online: a proven business model, expanded demographics, unique and expanding services, key strategic partnerships, and a solid track record."
MemberWorks, based in Stamford, Conn., provides consumer and membership services through affinity marketing and online channels.
Toronto-based Lavalife says it has more than 700,000 customers, principally in the United States, Canada and Australia
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