ZACKS – June 29 – Shares of MeetMe gained ~12% after the dating app operator announced its acquisition of one of its smaller competitors, Skout on Monday. MeetMe has inked a definitive agreement to acquire Skout in a cash-and-stock deal (~$54.6M in total). The acquisition is anticipated to be completed on Oct 1, 2016. The acquisition will increase MeetMe's user base by 69% to 8.5M.
