On September 30, 2016, the Company completed the acquisition of all the outstanding shares of Samadhi SAS (“Samadhi”), an unrelated third party and owner of the platform Attractive World. The Company believes that this acquisition will help expand into the French market. As of the acquisition date,
Samadhi became a wholly owned subsidiary of the Company.
The total consideration for the acquisition of 100% of Samadhi’s shares outstanding amount to €9,295 thousand, comprising €8,000 thousand in cash paid in 2016, €1,000 thousand deferred compensation payable in 2017, and €295 thousand of contingent consideration payable upon reaching specified operating objectives, which management deems probable to occur. The share purchase agreement includes an additional €705 thousand of contingent consideration payable upon reaching specified operating objectives in 2017, which management deemed improbable. As such, management has not recorded any contingent consideration with respect to the €705 thousand as of the acquisition date or December 31, 2016. Refer to Note 9.2 for further information. The Company incurred acquisition-related costs of €162 thousand, which comprise legal fees and due diligence costs. These costs have been included in “general and administrative expenses”.
For the three months ended December 31, 2016, Samadhi contributed revenue of €912 thousand and losses of €(901) thousand to the Group’s results, mainly resulting from amortization charges of the acquired intangible assets as well as the restructuring that was implemented in the fourth quarter of 2016.
at page 276 of 719
Affinitas GmbH. 2016 financials via
Spark Networks Files Registration Statement With SEC Over Affinitas GmbH. Merger
EliteSingles / eDarling sites are only copycats of eHarmony.
A prospective client will not perceive eDarling / EliteSingles sites as better, superior or different than eHarmony's ones. eHarmony has about 750,000 paid subscribers and 10 million active users, which has been steady for the past five years.
eHarmony's sites are 3 times bigger in active users and revenue than EliteSingles's sites.
And worse, Affinitas GmbH. can not beat and will never beat eHarmony Inc. in United Kingdom, Australia, Canada and United States.