Ticketmaster to Buy Soulmates

Ticketmaster, the world’s largest retailer of tickets for concerts and sports events, said it agreed to buy Australian Internet dating service Soulmates Technology for $23 million in new stock to help its Match.com service expand worldwide.

Ticketmaster expects closely held Soulmates to add revenue of $5 million and earnings before interest, taxes, depreciation and amortization of $2 million a year, said Chief Executive John Pleasants.

Soulmates delivers personal ads in 30 countries in 18 languages, he said. Its technology also is used to distribute personal ads on Microsoft Corp.’s Microsoft Network.

“We believe that the online matchmaking business is a very explosive one,” Pleasants said. “This purchase positions us strongly and the challenge is ours now to maintain our leadership position.”

Los Angeles-based Ticketmaster shares rose 36 cents to $28.58 on Nasdaq.

Sydney-based Soulmates had a loss before interest taxes, depreciation and amortization of $80,000 last year, Pleasants said.

The transaction is expected to close next month, Pleasants said. Soulmates has 2 million registered users, Ticketmaster spokeswoman Kandus Kane said.