German TV Giant ProSiebenSat.1 Buys eHarmony
The company's e-commerce business already owns European online dating giant Parship, saying the deal "will immediately create a world-leading online matchmaking company."
German TV giant ProSiebenSat.1 on Monday unveiled that it has acquired online matchmaking platform eHarmony.
It didn't provide financial details.
The company struck the deal via its e-commerce business NuCom Group, in which private equity firm General Atlantic is a partner. NuCom's portfolio already includes Parship Elite Group, a leader in the online matchmaking space in the German-speaking and Benelux region.
"Bringing these two strong brands together will immediately create a world-leading online matchmaking company," said Max Conze, CEO of ProSiebenSat.1 Media.
The U.S. online dating market, including matchmaking as "the sub-segment with the highest value per subscriber," is one of the largest globally, estimated at $3 billion in size, "with strong average annual growth of 11.9 percent from 2013 to 2018," the company said. "With 87 percent brand awareness, eHarmony is one of the best-known brands in the United States. For 2018, 2.8 million registrations are expected on the eHarmony platforms worldwide."
CEO Grant Langston will continue to manage the L.A.-based eHarmony business, which was founded in 2000. "By bringing together our well-known, like-minded companies, we have the resources and shared knowledge to compete and achieve growth together in the online matchmaking market with a laser focus on creating long-lasting, meaningful relationships," he said. eHarmony operates in the U.S., Canada, the United Kingdom and Australia.
NuCom Group is a growing e-commerce player with 10 portfolio companies in the online price comparison, gifting/events, dating and beauty space.