XO Group Inc. Becomes Privately Held Company and Merges with WeddingWire
21 Diciembre 2018 - 8:22AM
Business Wire
The Unified Company Is Set to Redefine and
Accelerate Growth Within Global Wedding Industry
XO Group Inc. (“XO Group”), operator of The Knot, today
announced that it has become a privately held company and has
completed its previously announced merger with WeddingWire, Inc.
The combined organization, owned by the Permira Funds and Spectrum
Equity, will deliver leading wedding marketplaces, wedding
websites, planning tools and registry services to over 20 million
unique visitors each month across the globe through The Knot,
WeddingWire, Bodas and other family brands. The company, a leader
in the industry with over 3 million registered couples, 700,000
local vendors and 7 million reviews, will build upon more than four
decades of combined expertise to continue providing the most loved
products and services to users.
Under the terms of the agreement, XO Group shareholders will
receive $35.00 per share in cash. The company will maintain both
wedding brands in the US (The Knot and WeddingWire) as separate
consumer products, in addition to maintaining the other leading
wedding and lifestyle brands across the globe.
“This is a great day for our new company and this industry that
we all love,” said Mike Steib, co-CEO. “I want to thank the
incredible people at XO and WeddingWire for making today possible.
Together, this team is the best in the game.”
"Our union is an exciting and incredible milestone for the
global wedding industry and all of us at WeddingWire and XO," said
Tim Chi, co-CEO. "Together, we can further our ongoing commitment
of providing all couples with the resources to plan, driving
business success to event professionals and partners, and
pioneering industry innovations. We’re grateful for our exceptional
teams through the years who have brought diversity of talent and
thought to make us one combined, best-in-class company.”
About the Company
The company serves engaged couples and wedding professionals in
15 countries across North America, Europe, Latin America and Asia
through wedding brands The Knot, WeddingWire, Bodas.net,
Matrimonio.com, Mariages.net, WeddingWire.in and more. Additional
lifestyle brands include The Bump, GigMasters, Lasting, How They
Asked and more. The combined company has US offices in New York,
New York; Chevy Chase, Maryland; Norwalk, Connecticut; Austin,
Texas; and Omaha, Nebraska and international offices in Barcelona,
Spain; Guangzhou, China; and Gurgaon, India.
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version on businesswire.com: https://www.businesswire.com/news/home/20181221005268/en/
Melissa BachSenior Director, Public Relations and Brand
Marketing(212) 515-3594mbach@xogrp.com
XO Grp., Inc. (NYSE:XOXO)
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