According to an article in the Canadian Globe & Mail, the Parent Company of Ashley Madison and other adult(ery) oriented websites, Avid Media Life, is planning to go public on the Toronto Stock Exchange (TSX) this year, wanting to raise $60 million CAD. The company operates websites such as CougarLife.com , EstablishedMen.com and AshleyMadison.com and is planning to use part of the funds raised in a private placement to buy Guelph based Moxy Media. Moxy Media is a remainder of the previously split GeoSign.

Avid Life posted $30-million of sales and $8-million of earnings before interest, taxes, depreciation and amortization (or EBITDA) in 2009. The latter number was a four-fold increase from 2008, according to documents used to market the deal. [...]

Moxy reported sales of $192-million and $27-million of EBITDA in 2009, according to documents used to market the deal. After the takeover, Avid Life will list on the TSX Venture Exchange or Toronto Stock Exchange by staging a reverse takeover of a shell company.

[via Canadian Globe & Mail]