Tuesday, March 2, 2010

Spark Networks Gets Buyout Offer

Beverly Hills-based Spark Networks, which runs the JDate.com, Spark.com, BlackSingles.com, and ChristianMingle.com dating sites, said Tuesday afternoon that the firm is considering a buyout offer from Great Hills Partners II, LP, one of the firm's major investors. According to Spark, it has received a proposal from Great Hills to acquire all of the firm's outstanding shares, at a price of $3.10 per share. The deal is worth around $64M. Spark said it has formed a special committee of independent directors to consider the proposal, which would take the firm private.