Friends United Sold For $42 Million
Friends United was one of the top social networks based in the United Kingdom several years ago. ITV bought them out in 2005 for £175 million. And now the company has been sold again, but this time for £25 million ($42 million). The buyer at the $42 million price is Brightsolid, a subsidiary of DC Thomson.
ITV was previously considering an offer at a price of £15 million according to Mashable. Brightsolid also runs a service called Find My Past. Through the acquisition, Brightsolid has attained all of Find My Past’s assets which include a social networking website, a genealogy service, and a dating service.
The genealogy service is called Genes United, which has millions of users, many of who are paying subscribers. The acquisition is subject to approval by competition authorities.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry