The acquisition by the Edinburgh-based business, which joined AIM last June, is part of an overseas growth strategy launched in 2009 that targets all English-speaking territories outside the UK.
Offering both mainstream online dating and matchmaking services, Cupid will merge IndianDating.com, which is focused on the Indian community in North America, into its operations this year. The sites being purchased have about 600,000 members.
Cupid chief executive Bill Dobbie says the IndianDating.com brand offers ‘significant potential’ for expansion as the business prepares to launch in mainland Europe and Brazil next year.
Dobbie comments, ‘As a niche site, the domain fits in very well with our existing portfolio and the acquisition represents our increasing presence in the North American market and growing international focus.’
Cupid, previously known as Easydate prior to its acquisition of US company Cupid.com for $6.6 million last September, owns niche dating sites including casual relations site Benaughty.com, general dating site Flirt.com and a number of niche outfits including DatingForParents.com, MatureDatingUk.com and ‘femme’ lesbian site PlanetSappho.com.
Cupid last month announced profits would be slightly ahead of expectations. For the year to December 2010 analysts at previous broker Cenkos forecast pre-tax profits of £5.3 million on turnover of £24.9 million.