brightsolid has agreed a leasing deal with online dating business Cupid PLC
brightsolid has agreed a leasing deal with online dating business Cupid PLC for the operation of its dating brands Friends Reunited Dating, Friends Over Fifty and Swoon.
The decision followed a strategic review aimed at ensuring that brightsolid concentrates on its core activities in online publishing and online technology.
“Our acquisition of Friends Reunited in April 2010 helped the company to achieve significant growth last year, with overall sales up by 75 per cent,” said brightsolid chief executive Chris van der Kuyl.
“It is vital that we continue to grow all of our core businesses in online publishing and online technology. However, it is clear that Cupid has real strengths in the online dating sector, so it makes absolute sense to enter this agreement with them for our dating business.
“The deal maximises the potential of the online dating services, whilst allowing brightsolid to concentrate on our core activities.”
Under the terms of the deal, Cupid PLC will operate brightsolid’s dating brands on a 10 year lease. brightsolid will retain ownership of the domain names, trade marks and Intellectual Property Rights (IPR) to the Friends Reunited Dating, Friends Over Fifty and Swoon brands. Existing subscribers are being notified and the intention is to avoid any disruption to their service.
