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MeetMe closes Skout deal

MeetMe on Oct. 3 closed the acquisition of Skout Inc., a global mobile network formeeting new people.

Related to the deal, MeetMe granted stock options for up to355,000 of its common shares to 25 former Skout employees as an inducement tobecoming nonexecutive employees of MeetMe at closing. Each option has a 10-yearterm, a three-year vesting period, subject to continued employment, and anexercise price of $6.12 per share, the closing price per share of MeetMe'scommon stock on the grant date.

Additionally, MeetMe disclosed that excluding Skout, itexpects its third-quarter revenue to total about $17.2 million, for year-over-yeargrowth of about 20%. The Skout deal is expected to "significantly"increase the size of MeetMe's user base and its total revenue, the company said.

MeetMe's third-quarter financial results will be reported inearly November.