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Love is in the air as Cupid goes for £7 million Uniform Dating

Published: 08:08 14 Sep 2012 BST

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Love is in the air again at AIM listed Cupid Group (LON:CUP), which has its eye on the Uniform Dating website for firefighters, nurses, police and members of the armed forces.

It has agreed a £7 million bid for the group, which will be part funded by a placing of 1.8 million shares at £2 each.

The price being paid is almost three times Uniform Dating’s £7 million turnover and exactly 10 times EBITDA.

However UD is expected add at least £1.5 million to Cupid’s underlying earnings in the full-year 2013.

Cupid chief executive Bill Dobbie said: "We are very pleased to add a further high quality business to the Cupid family of dating sites.

“Uniform Dating is a fast growing, profitable business which is a dominant player in the uniformed personnel dating niche and fits perfectly into our portfolio of sites. 

“We look forward to driving Uniform Dating's growth further through our international footprint and marketing expertise.”

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