USA Interactive Completes Acquisition of uDate.com, Inc.
USA Interactive (Nasdaq: USAI) today announced the completion of its acquisition of uDate.com, Inc., a global online personals group based in Derby, England, which provides dating and matchmaking services through www.udate.com and www.kiss.com.
At closing, USA issued approximately 5.48 million shares of USA common stock in exchange for uDate shares, options and its warrant, and paid certain uDate expenses incurred in connection with the transaction. Shares of uDate, which prior to the acquisition had traded on the OTC Bulletin Board under the symbol "UDAT," ceased trading upon the closing of the transaction.
uDate was advised in the transaction by Broadview International.
About USA Interactive
USA Interactive (Nasdaq: USAI) engages worldwide in the business of interactivity via the Internet, the television and the telephone. USA's multiple brands are organized across three areas: Electronic Retailing, Information & Services and Travel Services. Electronic Retailing is comprised of HSN, America's Store, HSN.com, and Home Shopping Europe and Euvia in Germany. Information & Services includes Ticketmaster, Match.com, Citysearch, Evite, Precision Response Corporation, Entertainment Publications and now, uDate.com. Travel Services consists of Expedia (Nasdaq: EXPE), Hotels.com (Nasdaq: ROOM), Interval International, TV Travel Group and USA's forthcoming U.S. cable travel network.
uDate.com, Inc. is a global online personals group with members in more than 100 countries around the world as of September 30, 2002. The Company operates two Web properties www.udate.com and www.kiss.com.
CONTACT: USA Interactive Corporate Communications Ron Sato 212/314-7254 or USA Interactive Investor Relations Roger Clark/Lauren Rosenfield 212/314-7400 or uDate.com, Inc. Eleanor Krivicic, 888/214-8133, ext. 916.