ProSieben Sat.1 runs the online dating platforms Parship and Elite Partner. Prosieben will hold 55% of the merged online dating business, including the former Parship Group (Parship, ElitePartner, eharmony), and General Atlantic will hold 45%. We are proud to be a partner of both ProSiebenSat.1 and NuCom Group as we work to createlong-term value and growth.”, Geoffrey Cook, CEO, The Meet Group: “We are excited about this transaction and the significant benefits resulting from a combination with NuCom’s Parship Group. Meet Group declined to comment, while Prosieben … See here for a complete list of exchanges and delays. The company has millions of mobile daily active users. ProSieben declined to comment, while Meet Group did not respond to a request for comment. “This will increase pressure on the group to consider asset sales but at this point there is no mention of it and the Meet acquisition will increase leverage risk in the near-term,” Citi analysts said in a note. The Company leverages a live-streaming video platform, empowering global community to forge meaningful connections. “The combination...is a unique value-creation opportunity for us,” Conze told Reuters in an interview. Mar 23, 2021. (3) Based on EUR/USD exchange rate of 1.11. Although ProSieben owns 75% of NuCom and General Atlantic 25%, the Meet Group deal was structured so that ProSieben actually committed less cash than General Atlantic to the takeover. The goal is to create a leading global player in the online dating segment by combining NuCom’s portfolio company Parship Group with The Meet Group. However, ProSiebenSat.1 Group is strongly committed to its targeted financial leverage in the range of 1.5x to 2.5x. FINANZEN.AT - June 10 - ProSieben is planning to spin off its dating business unit from the subsidiary Nucom and "bring it to the stock exchange at the right time at a profit," said board spokesman and CEO/CFO Rainer Beaujean. Meet Group and Prosieben declined to comment. Our Standards: The Thomson Reuters Trust Principles. ProSieben’s shares have fallen by more than a third over the past 12 months, cutting its market capitalisation to $2.7 billion and raising doubts over whether Conze’s pivot to digital can boost not only the top but also the bottom line. The regulators are not concerned about ProSieben’s current presence in the online dating industry. Meet Group shares rose as much 21 per cent on the news and closed on Monday 5.3 per cent higher … ProSieben shares were down 2.2% at 0829 GMT on Tuesday, making them the biggest percentage faller on Germany’s midcap benchmark MDAX, which was barely changed. Geoffrey Cook, CEO, The Meet Group: ... ProSieben, kabel eins, sixx, SAT.1 Gold, ProSieben MAXX, and kabel eins Doku is the Number 1 in the German audience and TV advertising markets. “This is an exciting time for The Meet Group,” said Geoff Cook, Chief Executive Officer of The Meet Group. German broadcaster ProSiebenSat.1 Media SE's e-commerce arm NuCom Group is nearing a deal to acquire Meet Group Inc that could value the U.S. dating app developer at … ^ "The Meet Group Announces Closing of Acquisition by eharmony Parent Company Parship Group" (Press release). The acquisition is expected to close in the 2nd second half of 2020 and is subject to the satisfaction of customary conditions, including approval of The Meet Group’s shareholders and receipt of required antitrust and regulatory approvals.Two leading businesses with complementary strengths and unique product offerings in their respective highly attractive market segmentsAfter a successful closing of the transaction, Parship Group will cover the complete spectrum of the online dating market. September 4, 2020. ProSieben forecast that revenues would grow by 4% this year while adjusted EBITDA would be flat, reflecting the squeeze on profitability from its push into lower-margin digital projects as its commercial TV cash cow declines. ProSiebenSat.1 announced the acquisition of The Meet Group through Nucom for ~$500M in March. Although ProSieben owns 75% of NuCom and General Atlantic 25%, the Meet Group deal was structured so that ProSieben actually committed less cash than General Atlantic to the takeover. The sources requested anonymity because the matter is confidential. ProSiebenSat.1 and General Atlantic teamed up to sign with their joint company NuCom Group an agreement for the acquisition of the US online dating and social entertainment provider The Meet Group (NASDAQ: MEET). The cash price consideration to The Meet Group’s shareholders is $6.30 per share, valuing The Meet Group at approximately $500m enterprise value. It will significantly advance our ambition to create one of the leading global players in online dating and interactive live video. The Meet Group Takes Part in Safer Internet Day 2021; 02/08/2021The Meet Group Announces Partnership with RAINN, Furthering its Commitment to Dating Safety; 02/01/2021The Meet Group Ranked One of the Fastest-Growing Companies in North America on … Although ProSieben owns 75% of NuCom and General Atlantic 25%, the Meet Group deal was structured so that ProSieben actually committed less cash than General Atlantic to the takeover. "We are currently targeting the 2022 financial year for this." The Federal Cartel Office, Germany’s national competition regulator, has approved ProSieben’s proposed takeover of The Meet Group. ProSieben to Buy Dating Firm Meet Group in Tough TV Market. The Meet Group announced today that it has entered a definitive agreement to be acquired by NuCom Group, the joint company between European mass media organisation ProSiebenSat.1 and private equity firm General Atlantic. Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the company a market value of $382 million. The German Federal Cartel Office, Bundeskartellamt, has approved the planned takeover of the Meet Group by ProSiebenSat.1. Bloomberg News. , which has amassed a 15% stake in ProSieben as part of a wider push to bring about broader TV industry consolidation in Europe, declined to comment. Joern Nikolay, Managing Director General Atlantic: “Nearly two years ago, we entered into this partnership with ProSiebenSat.1 and NuCom Group with a clear mission to create category leaders. EBITDA 12.8x / incl. The Meet Group is an innovative and growing company that is a natural fit with the Parship Group, and the transformative combination of the companies will move us closer toward our vision of creating a global leader in the online dating segment. ProSiebenSat.1 and General Atlantic teamed up to sign with their joint company NuCom Group an agreement for the acquisition of the US online dating and social entertainment provider The Meet Group (NASDAQ: MEET). All quotes delayed a minimum of 15 minutes. net income accretive for ProSiebenSat.1 in firstyear (pro forma 2020E), ProSiebenSat.1 committed to its financial leverage target range of1.5x-2.5x, Transaction expected to close in the second half of 2020, After the successful closing, Parship Group will cover the completespectrum of the online dating market: from science based online. We believe the combination of these two successful and complementary businesses will also create synergies within the ProSiebenSat.1 universe and accelerate the growth of our market share in the German live video apps sector.”Industry leader with innovative and interactive live video offerThe Meet Group‘s apps are positioned at the intersection of online dating and social entertainment. After completing the transaction, ProSiebenSat.1 Group will hold 55% of the merged online dating business, whereas General Atlantic's stake will amount to 45%. Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the company a market value of $382 million. 17 talking about this. The following information was filed by Meet Group, Inc. (MEET) on Wednesday, March 11, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of … FINANZEN.AT - June 10 - ProSieben is planning to spin off its dating business unit from the subsidiary Nucom and "bring it to the stock exchange at the right time at a profit," said board spokesman and CEO/CFO Rainer Beaujean. The Meet Group announced today that it has entered a definitive agreement to be acquired by NuCom Group, the joint company between European mass media organisation ProSiebenSat.1 and private equity firm General Atlantic. The Meet Group’s fast-growing dating and social entertainment apps with brands such as MeetMe®, Tagged® and Lovoo® meet the universal need for human connection. Prosieben has only a ~3B EUR market cap versus MEET at ~400MM. Meet Group and Prosieben declined to comment. We have committed ourselves to high standards, adopted industry-leading practices, and vowed to constantly improve with the best-in-class safety updates across our platforms. The Meet Group’s CEO Geoff Cook to Speak at Safety Tech 2021 Mar 23, 2021 DGAP-AFR: ProSiebenSat.1 Media SE: Preliminary announcement of the … By combining the Parship Group and the US-based The Meet Group, we have created a leading global player in the dating field forming the new ParshipMeet Group. The Meet Group (NASDAQ:MEET) gains as Reuters sources say Prosieben's NuCom is considering an acquisition. Deal structure demonstrates excellent collaboration between ProSiebenSat.1 and General AtlanticProSiebenSat.1 Group and General Atlantic will jointly finance the acquisition with cash contributions of $232m (EUR 209m (2)) and $306m (EUR 276m (3)),respectively. "We are currently targeting the 2022 financial year for this." NuCom, the owner of eharmony, has signaled its interest. EBITDA definition according to The Meet Group https://www.prosiebensat1.com/en/investor-relations/presentations-events/ma(2) Based on EUR/USD exchange rate of 1.11. At Thursday’s share price of 10 euros, that represents a yield of more than 8%. Prosieben's NuCom eyes acquisition of Meet Group -sources Back to video The sources requested anonymity because the matter is confidential. Yet the deal came as ProSieben reported weak 2019 results and set a cautious outlook that does not yet take into account the coronavirus epidemic that led British peer ITV. Meet Group shares rose as much 21% on the news, and were trading up 9% at $5.52 in the afternoon session in … Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the company a market value of $382 million. The Meet Group's MeetMe and SKOUT will be partnering with Plenty of Fish to host the World's Largest Virtual Speed Dating event on Sunday, September 20 at 8:00 p.m. EDT. Over the past four years, NuCom Group has established a profitable online matchmaking platform – Parship Group – through the acquisition of Parship and ElitePartner in Germany in 2016, followed by the acquisition of US-based eharmony Group in 2018, globalizing the company. The Meet Group currently has about 300 local employees. Parship Group closes The Meet Group acquisition to form a leading online dating platform with ParshipMeet Group ProSiebenSat.1's and General Atlantic's Parship Group completes acquisition of The Meet Group to form Germany's next unicorn The acquisition of The Meet Group with its leading portfolio of mobile dating apps will further diversify the matchmaking and dating platform, and willscale the combined entity’s geographical presence and breadth. Reuters first reported the news late on Wednesday. Meet Group and ProSieben declined to comment. The Meet Group’s CEO Geoff Cook to Speak at Safety Tech 2021. We look forward to joining forces with Parship Group and leveraging their industry experience to continue to advance our mission of helping users connect in a meaningful way.”, Tim Schiffers, CEO Parship Group: “Following the successful acquisition of eharmony, we have proven that we can manage new businesses and accelerate their growth by combining the best of both worlds. “At a stroke you are creating a top-3 global player, while the portfolio has huge synergy potential.”. Responding to those concerns, Conze said he took leverage very seriously and he was committed to compensating the cash outflow for Meet Group with other “portfolio movements” during the course of 2020. to warn of a 10% short-term hit to ad revenues. "ProSieben to Buy Dating Firm Meet Group in Tough TV Market". Meet Group shares jumped 20% to $6.64 on the news. Meet Group and ProSieben declined to comment. ?s Pride and Lamb Weston highlighted as … ProSiebenSat.1 Media SE plans to buy The Meet Group Inc. in an all-cash deal as the German broadcaster tries to counter a drop in TV advertising revenue by … Its main markets are North America, Germany and Southern Europe. Based in New Hope, Pennsylvania, Meet Group … Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the … NEW HOPE, Pa.-- (BUSINESS WIRE)--The Meet Group, Inc. (NASDAQ: MEET), a leading portfolio of mobile dating apps, today announced that it has … German broadcaster ProSiebenSat. The Meet Group transaction is expected to close in the second half of the year, subject to regulatory and shareholder approval, and be accretive to net income in the first year. The combination of our companies adds our strength in freemium dating to ProSieben… Meet Group and ProSieben declined to comment. Meet Group shares rose as much 21% on the news, and were trading up 9% at $5.52 in the afternoon session in … Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the company a market value of $382 million. Through these apps, users can stream live video, send gifts, chat, and share photos. ProSieben and General Atlantic, the minority partner in its e-commerce joint venture NuCom, jointly offered $6.30 per share in cash for Meet Group in the agreed transaction. In another sign of financial strain, management proposed a cut in the 2019 dividend to 0.85 euros, down from 1.19 euros the year before. The regulators are not concerned about ProSieben’s current presence in the online dating industry. Meet Group and ProSieben declined to comment. By combining their industry expertise as well leveraging their complementary fit and user bases in the core markets, Parship Group will become a global leader in the online dating market with expected double-digit annual revenue growth rates. Its mobile apps are available on iOS, and Android in multiple languages. Through its arm NuCom Group, the broadcasting company currently holds stakes in Parship, Elite Partner and eharmony. Meet Group shares rose as much 21% on the news, and were trading up 9% at $5.52 in the afternoon session in New York on Monday, giving … Bloomberg. BERLIN (Reuters) - ProSiebenSat.1 Media PSMGn.DE has staked a $500 million bet on romance by buying U.S. dating app developer Meet Group Inc MEET.O, but the deal was a turn-off for investors who sent the German broadcaster's shares down as much as 10% to a decade low. The Meet Group’s dating app portfolio includes MeetMe, Skout, German app Lovoo and niche gay dating app Growlr, all of which would be under NuCom. Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the company a market value of $382 million. Media SE's e-commerce arm NuCom Group is exploring the acquisition of U.S. live streaming app developer Meet Group Inc , people familiar with the matter said. The acquisition multiples for The Meet Group are EV/LTM Sales of 2.4x, EV/LTM Adjusted EBITDA of 12.8x, reducing to < 10x including full run rate synergies (full run rate synergy potential expected to be realized by 2022). Try refreshing your browser, or tap here to see other videos from our team. Analysts expressed concern that the Meet Group deal and risks to profitability could further strain ProSieben’s capacity to support a debt burden that, at 2.6 times core earnings, is already outside management’s target range. “The acquisition of The Meet Group is one of ProSiebenSat.1’s largest transactions. CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share data) Three Months Ended December 31, Reuters first reported the news late on Wednesday. ProSiebenSat.1 announced the acquisition of The Meet Group through Nucom for ~$500M in March. Through its arm NuCom Group, the broadcasting company currently holds stakes in Parship, Elite Partner and eharmony. Meet Group and ProSieben declined to comment. The Meet Group apps represent a highquality product expansion for the Parship Group, diversifying revenues from 100% subscription towards virtual gifting and advertising. The envisaged shareholding structure also takes a pre-merger Enterprise Valuefor the Parship Group of EUR 726m into account. The established and well-known brands Parship, eharmony and ElitePartner offer science-based online dating to create long-term relationships. ProSieben declined to comment, while Meet Group did not respond to a request for comment. Geoffrey Cook, CEO, The Meet Group: ... ProSieben, kabel eins, sixx, SAT.1 Gold, ProSieben MAXX, and kabel eins Doku is the Number 1 in the German audience and TV advertising markets. Meet Group and Prosieben declined to comment. I am looking forward to working with our new colleagues to solidify our international footprint.”. German broadcaster ProSiebenSat.1 Media SE's e-commerce arm NuCom Group is nearing a deal to acquire Meet Group Inc that could value the U.S. dating app developer at … A Prosieben led acquisition of the Meet Group would, therefore, result in at least 15-20% dilution to … NuCom Group owns portfolio company Parship Group which looks after the online dating brands Parship, Elite Partner and eharmony. The Meet Group Reports Fourth Quarter and Full Year 2019 Financial Results. Meet Group shares rose as much 21% on the news and closed on Monday 5.3% higher at $5.33, giving the company a market value of $382 million. The Meet Group, Inc. (formerly MeetMe) owns several mobile social networking services including MeetMe, hi5, LOVOO, Growlr, Skout, and Tagged. The acquisition is expected to be adjusted net income accretive for ProSiebenSat.1 in the first year (pro-forma full year 2020E). We apologize, but this video has failed to load. Max Conze, CEO, ProSiebenSat.1 Media SE: “The acquisition of The Meet Group is one of ProSiebenSat.1’s largest transactions. The Federal Cartel Office, Germany’s national competition regulator, has approved ProSieben’s proposed takeover of The Meet Group.

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