"The bulk of our M&A and investment over the past few years has been in the area of niche and mainstream sites, and this will continue to be our area of focus going forward," Dobbie added.
"The proceeds from the sale will allow us to further enhance the remaining Group by strengthening our brands and also improving and widening the customer proposition.
"We have built a strong, revenue generating Group and we very much look forward to driving further growth within our mainstream and niche sites over the coming period."
After the completion of the transaction, Cupid plc will focus on its mainstream and niche dating sites including Cupid.com, LoveAgain.com, UniformDating.com, Amour.com, Serencontrer.com, GirlsDateforFree.com, Indian Dating.com, Canoodle.com and YOLO.com.
The company said it will focus on improving the experience and positioning of sites with the target audience.
The Casual Assets of the company being sold include a portfolio of brands and their international equivalents as well as 100% stake of Cupid plc’s Cyprus based subsidiary companies, including Yarra Limited and EZD Limited which operated the European casual dating sites.
This article is from the CBROnline archive: some formatting and images may not be present.
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