As reported by Reuters, the acquisition is being looked at through ProSiebenSat.1’s NuCom ecommerce business.
According to sources familiar with the matter, NuCom has made a “preliminary expression of interest” to buy Meet Group, whose portfolio includes mobile social entertainment apps such as MeetMe and LOVOO.
NuCom has been used by ProSieben to diversify its portfolio away from its traditional free to air TV business and expand into social media and other internet products. As such, NuCom has invested in everything from dating apps to experience voucher companies and even to price comparison sites.
The report asserts that Meet Group has struggled to challenge Tinder-developer Match and is focusing on expanding its live-streaming platforms – thus lining up with ProSieben’s interests.
Upon news of ProSieben’s potential interest, shares in Meet Group rose by over 20% to leave the company with a market value of US$382 million.
Investment banking firm Roth Capital Partners published a research note saying that the interest in Meet Group “ likely involves implementing Meet Group’s live streaming platforms across NuCom’s various dating sites, as well as potential user overlaps in Europe and Germany.”
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