Skip to main content

WeddingWire and The Knot, well, tie the knot. They are now one.

The owner of Chevy Chase-based WeddingWire Inc. has closed on its nearly $1 billion deal to acquire XO Group Inc., parent company of The Knot. May they live happily ever after.

New York-based XO Group (NYSE: XOXO) was taken private as of Friday, as Permira Funds and Spectrum Equity, WeddingWire owners, completed the previously announced merger. The deal will provide XO Group shareholders $35 per share in cash. The deal is valued at about $933 million.

The new company is led by XO Group CEO Mike Steib and WeddingWire CEO Tim Chi, as co-CEOs.

Permira and Spectrum now control a host of wedding marketplaces, websites, planning tools and registry services through brands including WeddingWire, The Knot and Bodas, all of which will remain separate products post-merger.

“Our union is an exciting and incredible milestone for the global wedding industry and all of us at WeddingWire and XO,” Chi said. “Together, we can further our ongoing commitment of providing all couples with the resources…

Read the full story from the Washington Business Journal.

Best jobs in America in 2022

The right job for you The pandemic continued to influence the extreme fluctuations of the job market and the way we worked in 2021. Many workers who were able to remain remote did so, as concerns over the coronavirus persisted in spite of access to vaccines; others returned to a workplace that looked vastly different from before times. More notably, the Bureau of Labor Statistics says that in November 2021 alone, a record 4.5 million workers quit their jobs, becoming part of a growing trend known as the "Great Resignation."
Read Next Story