NuCom Group and PARSHIP ELITE Group acquire US matchmaking pioneer eharmonyNuCom Group and PARSHIP ELITE Group acquire all shares of US brand icon eharmony
Attractive opportunity due to high synergies and growth potential in combined entities
Entering the markets in the US, Canada and Australia
Establishing a globally leading matchmaking company
Munich/Hamburg/Los Angeles, October 29, 2018. ProSiebenSat.1 is announcing its first major transaction in the Commerce segment since partnering with General Atlantic: The NuCom Group (NCG) and its portfolio company PARSHIP ELITE Group (PEG) are acquiring 100% of eharmony. The company is considered the creator of the segment and one of the leading online matchmaking platforms in the United States. PARSHIP ELITE Group is the leading online matchmaking platform in the German-speaking and Benelux region. Since the majority acquisition, NuCom Group has supported the development of PEG into one of its most successful portfolio companies today.
Max Conze, CEO ProSiebenSat.1 Media SE: Creating growth and leveraging synergies are key elements of our strategy. This acquisition is an excellent fit. Bringing these two strong brands together will immediately create a world leading online matchmaking company.
Together with its partner General Atlantic, ProSiebenSat.1 identified the potential for the add-on acquisition of eharmony and for PEG's expansion to the US, Canada and Australia. 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 average annual growth of 11.9% from 2013 to 2018. With 87% 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.
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. PEG's innovative technical setup, which has already been behind the successful integration of ElitePartner, will serve as basis for the new joint platform with eharmony. This advancement of eharmony's technology will ensure an uplift for the customer experience and create substantial synergies. In this combined structure with PEG, eHarmony with its strong brand offers great prospects for renewed growth.
CEO Grant Langston will continue to manage the eharmony business with the PEG management joining the Supervisory Board.
Tim Schiffers, CEO PARSHIP ELITE Group: eharmony has 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.
The parties to the contract agreed not to disclose the details of the transaction.
On November 14, ProSiebenSat.1 will present the Group strategy at the Capital Markets Day which will be streamed live on the corporate website.
ProSiebenSat.1 Group
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 use scientific methods to successfully support singles in finding happy long-term relationships. Currently, the PARSHIP ELITE Group employs over 230 colleagues in Hamburg (headquarters) and Amsterdam.
eharmony
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.
