A new company focusing on online dating will form after investor firm Mountains West Exploration signed a letter of intent to acquire four dating and education businesses from Think Partnership this week.
Mountains West, a shell of a company that had developed coal methane wells, is expected to buy Personals Plus Inc., Apollo Beach, FL; Cherish Inc., Clearwater, FL; Vintacom Media Group Inc., Edmonton, Alberta; and Real Estate School Online Inc., Miami, for $21 million in cash and $9 million worth of Mountains West stock.
“This transaction will help us build Think Partnership's substantial online marketing and advertising business segment into an industry leader,” said Scott Mitchell, president of Think Partnership, Northbrook, IL.
Mountains West, which will change its name when the transaction is complete, plans to “expand the online dating space and to grow and acquire more companies,” said Xavier Hermosillo, senior vice president of communications for Think Partnership.
Christine Blank covers online marketing and advertising, including e-mail marketing and paid search, for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters