Spark Networks has announced that it has initiated an exploration of strategic alternatives. As part of this process, the Company plans to consider a wide range of options including a potential sale, merger or other strategic transaction, and continuing to operate as a public, independent company.
“Spark is thriving from an operational standpoint and is well-positioned to return to sustainable revenue growth,” said Eric Eichmann, the Company’s Chief Executive Officer. “Following approaches by a number of parties interested in a potential transaction, we believe now is an opportune time to explore a range of potential strategic alternatives.”
There can be no assurance that this process will result in the Company pursuing a particular transaction or other strategic outcome. The Company has not set a timetable for completion of this process, and it does not intend to disclose further developments unless and until it determines that further disclosure is appropriate or necessary.
The Company has engaged Moelis & Company LLC to act as its financial advisor and Jones Day to act as its legal advisor in connection with the review.