The sums involved in the acquisition are comparatively small, a long way from the heady heights of the dot com boom, when companies were being bought for silly money, often never to see a return.To fund the acquisition, Yoo Media is resorting to a deeply discounted share issue, with 166.7 million shares priced at 15p, a third below the price they were trading at when news of the negotiations leaked a fortnight ago.
The consolidation of the companies will create an interactive business second in size only to BSky B, covering everything from public service government information to chat, dating and gambling.
Effectively, the deal gives DITG representation on the London Alternative Investment Market without having to go to the market independently.
Yoo Media, the indebted interactive television group, plans to merge with Fresh Interactive Technologies in Spain and rebrand as Mirada, which means look or view.
It's all good for lonely hearts, but is it getting too crowded for dating sites to make money?
"The most significant new issue that large online dating services now face is the adoption of social network sites as de facto, free dating services," said Brian Shuster, founder of Redlightcenter.com, a social network virtual world modeled after Amsterdam's Red Light District (think but sexed up).