Parship Group closes The Meet Group acquisition to form a leading online dating platform with ParshipMeet Group
ProSiebenSat.1's and General Atlantic's Parship Group completes acquisition of The Meet Group to form Germany's next unicorn
ParshipMeet Group operates a resilient business model with combined pro-forma LTM revenues of c. EUR 451 million and pro-forma LTM adjusted EBITDA of c. EUR 95 million as of H1 2020[1] in an attractive market segment, with expected double-digit annual growth rates in revenue and adjusted EBITDA
ParshipMeet Group will become the new online dating segment of ProSiebenSat.1
ParshipMeet Group's management team is continued to be led by industry experts with significant operational expertise
Unterfoehring/Hamburg, September 4, 2020. ProSiebenSat.1's and General Atlantic's Parship Group has successfully completed the acquisition of The Meet Group, following regulatory approval from all required authorities. The combined company operates as ParshipMeet Group, a newly-minted unicorn and a leading global player in the online dating market. The Group offers a full suite of services, from social dating and entertainment to online matchmaking.
ParshipMeet Group as new online dating segment of ProSiebenSat.1
Parship Group has been carved out of NuCom Group and as of today ParshipMeet Group represents ProSiebenSat.1's new online dating segment with combined pro-forma LTM revenues of c. EUR 451 million and pro-forma LTM adjusted EBITDA of c. EUR 95 million as of H1 2020.[2] ParshipMeet Group's management team is continued to be led by industry experts with proven operational expertise, including Tim Schiffers (Group CEO), Henning R nneberg (Group CFO), Marc Schachtel (Group COO), and Geoff Cook (CEO of The Meet Group and General Manager Video). By carving out Parship Group from NuCom Group, ProSiebenSat.1 forms a strong fourth pillar in a highly profitable and fast-growing segment. Thus, ProSiebenSat.1 creates various upside opportunities and synergies within the Group and secures a stronger presence in Europe and North America. Economically, ProSiebenSat.1 owns 53% (plus EUR 350 million preferred equity) and General Atlantic 43% in ParshipMeet Group. The remainder is held by management. Shareholdings in NuCom Group remain unchanged. ProSiebenSat.1 and General Atlantic are evaluating an IPO for ParshipMeet Group in 2022.
Rainer Beaujean, Chairman of the Executive Board and CFO, ProSiebenSat.1 Media SE: By combining these two successful and complementary businesses, we create a leading global player in the online dating segment with ParshipMeet Group. This investment case is also another strong proof of concept of our ability to use the strengths of our Entertainment business to support the growth and development of consumer-facing digital platform and commerce businesses, thereby creating value for our shareholders.
Creating considerable shareholder value: NuCom and Parship Group successfully developed an internationally competitive player in the online matchmaking and dating sector
As a joint company of ProSiebenSat.1 and General Atlantic, NuCom Group has established its first category leader with ParshipMeet Group. After growing the business organically with a strong brand and product strategy, NuCom and Parship Group started expanding within the online dating market. The successful acquisition and subsequent integration of US matchmaking pioneer eharmony demonstrated its ability to create value through M&A and provided a solid entry in the attractive US market. With the acquisition of The Meet Group, the geographic footprint is further solidified and value generating competencies in online video monetization were added. After carving out Parship Group, NuCom Group focuses on the continued successful development of its three verticals of consumer advice, experiences and beauty & lifestyle.
Joern Nikolay, Managing Director, General Atlantic: Today's announcement marks an exciting new chapter for ParshipMeet Group. By bringing together these two companies and generating considerable shareholder value, NuCom Group has built its first category leader. We believe in the ability of ParshipMeet Group, as a newly combined company, to bring transformative digital innovation to the global online dating sector. ParshipMeet Group has a unique opportunity to harness the power of technological enablement to augment its differentiated platform and to continue connecting people around the globe.
ParshipMeet Group operates a resilient business model in a highly attractive market segment, with expected double-digit annual revenue growth rates as the broader dating sector continues to boom
Operating a highly resilient business model, ParshipMeet Group has a broad geographical footprint, underpinned by a diverse set of revenue streams, including subscriptions, in-app purchases and advertising. With its unique live video expertise, the Group will continue its growth trajectory by focusing on the acceleration of its live video and online dating capabilities in its existing markets. Despite a challenging macroeconomic situation, both Parship Group and The Meet Group managed their businesses throughout the COVID-19 pandemic effectively, swiftly reacting to the crisis and adapting to the continuously changing environment. The combined group was able to further expand its user base and generated pro-forma revenues of EUR 246 million and pro forma adjusted EBITDA of EUR 52 million, representing a c. 28% year-on-year pro-forma revenue growth and c. 71% year-on-year pro-forma adjusted EBITDA growth in the first half of 2020.[3] ParshipMeet Group's business model has proven to be adaptable during the COVID-19 crisis, with online dating and live video markets expected to grow by double digit rates in the next two years. The universal need for
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Parship Group closes The Meet Group acquisition to form a leading online dating platform with ParshipMeet Group 
