Cupid's arrow strikes Easydate

Internet dating website Easydate has bought US rival Cupid.com in a £4.4 million cash deal and announced that it is likely to pay a dividend at the year end.

The company floated on the Alternative Investment Market in June and yesterday announced maiden interims showing a pre-tax profit of 1.9 million against 980,000 for the whole of 2009. Turnover for the half year to 30 June rose to 8.8m against 8.5m for the 12 months before.

Bill Dobbie, chief executive, said the firm had operated Cupid.com under licence outside the US since January and had seen revenues rise to 290,000 a month.

It would be the group's third site in the US.

The company had money in the bank and could make another acquisition, probably in mainland Europe next year, Dobbie added.