brightsolid in bid for Friends Reunited
Dundee-based brightsolid is thought to be one of a
number of firms that has expressed early interest in buying the social
networking site, worth an estimated £40m. With a portfolio of online search services that includes a genealogical site developed in partnership with the Register Office for Scotland, brightsolid would be an obvious potential buyer for Friends Reunited.
In addition to helping old friends regain contact with each other, Friends Reunited has a family history spin-off, Genes Reunited.
Run by Scottish technology entrepreneur Chris van der Kuyl, brightsolid is owned by publishing giant DC Thomson and the investments arm of Noble Grossart Bank. The company would be able to draw on significant firepower in support of any bid. However, it could face stiff competition. Other potential buyers looking at the business include the Generations Network - the US owner of Ancestry.com and Genealogy.com.
The sale comes little more than three years after ITV bought the business for £175m from Steve and Julie Pankhurst, the husband-and- wife team who set up the website in 2000.
Although the site saw users reach a record 6.4 million in July, the social networking landscape has seen major players emerge such as Facebook, Bebo and Myspace - while a worsening economy has hit advertising. Broadcaster ITV put Friends Reunited up for sale as part of its plan to cut costs.
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