DateTix Group will buy Hong Kong, Singapore and UK-based premium online dating platform Lovestruck for 2 million shares and an earn-out consideration of $270,000.
The purchase will increase DateTix’s active user base by 259%.
Lovestruck had revenues of $2.3 million in 2015, with 96% coming from recurring membership subscriptions.
The purchase boosts DateTix’s market share particularly in Hong Kong and Singapore and expands its demographic to older users tending to seek long-term relationships.
The company will look to localise Lovestruck for the Chinese market, whilst launching DateTix into Europe via Lovestruck’s UK footprint.
Originally published as DateTix buys Lovestruck