Online information business Brightsolid has been given the official go-ahead for the acquisition of Friends Reunited Group for £25 million.
Online information business Brightsolid has been given the official go-ahead for the acquisition of Friends Reunited Group for £25 million.
The Competition Commission has cleared the deal after a ‘frustrating’ wait of more than half a year, according to Brightsolid CEO Chris Van der Kuyl.
The transaction sees Brightsolid, whose parent company is DC Thomson, purchase the Friends Reunited, Genes Reunited and Friends Reunited Dating businesses from previous owner ITV.
Brightsolid announced its intention to acquire Friends Reunited Group in August last year, but the deal was delayed due to competition concerns.
Van der Kuyl adds, ‘“It is fantastic news to finally get the green light from the Competition Commission for the completion of the deal. It has certainly been a frustrating period for all involved and meant that we were unable to take any control of the brands until this point.’
Genes Reunited is to be kept separate from Brightsolid’s existing genealogy services, including findmypast.co.uk.
Describing itself as the ‘original social network’ on the web, Friends Reunited launched in 2000 to put school friends back in touch. Sister site Genes Reunited, which helps people research their family history, was launched in 2003.
The group was purchased by ITV in 2005 for £175 million.
