PlanetOut Inc. a San Francisco-based online media company that targets gays and lesbians has reached an agreement to purchased RSVP Productions Inc., a direct marketer of tours and cruises targeted to the same market sector.
PlanetOut has agreed to pay $6.5 million in cash, plus up to an additional $3 based on the achievement of certain financial performance targets for 2007 and 2008. The deal is expected to close in March.
RVSP of Minneapolis reported $7.2 million in revenues in 2004 and $8.3 million in revenue for the first nine months of 2005.
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