NuCom Group, a General Atlantic portfolio company, and PARSHIP ELITE Group are buying eharmony. Financial terms weren’t announced. Eharmony, of Los Angeles, is a matchmaking platform. PARSHIP is backed by ProSiebenSat.1.
MUNICH, HAMBURG, Germany and LOS ANGELES, Oct. 29, 2018 /PRNewswire/ — ProSiebenSat.1 is expanding its Commerce segment internationally: The NuCom Group (NCG) and PARSHIP ELITE Group (PEG) are taking over 100% of the US online matchmaking pioneer eharmony. The company headquartered in Los Angeles was founded in 2000 and offers its matchmaking platform in the markets of the US, Canada, the UK and Australia. eharmony is considered the creator of the segment and is one of the leading online matchmaking platforms in the US. With this acquisition, the leading online dating platform in the German-speaking and Benelux region PARSHIP ELITE Group is expanding its international network. eharmony CEO Grant Langston will continue to manage the business with the PEG management joining the Supervisory Board of eharmony. The parties to the contract agreed not to disclose the details of the transaction.
The US online dating market, including matchmaking as the sub-segment with the highest value per subscriber, is one of the largest globally, estimated at USD 3 billion* in size and with strong annual growth of 11.9% from 2013 to 2018. With 87% brand awareness, eharmony is one of the best-known brands in the US. For 2018, 2.8 billion registrations are expected on the eharmony platforms worldwide.
Tim Schiffers, CEO PARSHIP ELITE Group: “eharmony is the inventor of scientifically based matchmaking. They have supported millions of singles in finding the right partner for a happy relationship. Parship and ElitePartner follow the same successful approach. We are extremely happy to in the future combine this matchmaking competence under one roof. We are very much looking forward to working together with Grant and his team.”
Grant Langston, CEO eharmony: “eharmony is thrilled to be partnering with NuCom and the PARSHIP ELITE Group. 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.”
Dr. Jan Kemper, Group CFO and Executive Board Member Commerce of ProSiebenSat.1 Media SE: “We are really excited to bring these two brands together. This deal will immediately create a world leading online matchmaking company with global operations. eharmony is a brand icon and the combined entity offers attractive growth as well as substantial synergy potential. Following our partnership with General Atlantic earlier this year, we are happy to announce our first core vertical within our NCG portfolio.”
Claas van Delden, Co-CEO NuCom Group: “PEG is among our most successful portfolio companies also because of the successful migration of ElitePartner onto the Parship platform. With eharmony, we can repeat this success on a global scale by ensuring a world class customer experience while securing the scale benefits of a unified tech stack.”
PARSHIP ELITE Group and eharmony matchmaking approach
Parship and ElitePartner, the two brands of PARSHIP ELITE Group, and eharmony are online matchmaking platforms supporting singles in finding happy, long-term relationships. Both companies apply scientific methods that are based on comprehensive questionnaires to derive the partnership typology of their members. Based on this approach, each member receives suggestions for potential partners with a high likelihood for long-lasting and happy relationships.
Kane & Company served as exclusive financial advisor to eharmony, Inc. in the transaction.
ProSiebenSat.1 is the leading German entertainment player with a strong e-commerce business. We want to offer great entertainment – whenever, wherever and on any device. Every day, 45 million TV households in Germany, Austria and Switzerland enjoy our 14 free and pay TV channels. Overall, ProSiebenSat.1 generates 1 billion video views per month with its online offers. Every year, we invest more than one billion euros in 120,000 hours of programming. Successful formats like “Germany’s next Topmodel”, “The Voice of Germany”, “Grey’s Anatomy” and “Young Sheldon” as well as top-notch stars like Heidi Klum, Joko and Klaas or Dwayne Johnson belong to our family. Shows like “Bosch” and “Married at First Sight” are created within our production and distribution business Red Arrow Studios. Our global video channel network Studio71 achieves more than 100 billion video views per year and operates more than 1,300 web channels. Our NuCom Group is a growing e-commerce player with ten leading portfolio companies that offer online price comparison, gifting/events, dating and beauty, retailing with 360 million interactions a year. ProSiebenSat.1 are 6,500 passionate creators that love to entertain and delight our viewers and consumers each day.
PARSHIP ELITE Group
The PARSHIP ELITE Group is the leading provider of online matchmaking services in Germany and Europe. The well-known international brands Parship and ElitePartner belong to the group. Both services to use scientific methods to successfully supports singles to find happy long-term relationships. Currently, the PARSHIP ELITE Group employs over 230 colleagues in Hamburg (headquarters) and Amsterdam.
Los Angeles, California-based eharmony helps people find meaningful relationships that enrich their lives. Founded in 2000, eharmony is a pioneer in using algorithms to create highly compatible relationships based on key dimensions of personality that predict the most compatible, highly successful, long-term relationships. eharmony operates in the United States, Canada, the United Kingdom and Australia. For more information visit www.eharmony.com or download the app available on iOS and Android.