eHarmony Acquired By German Broadcaster ProSiebenSat.1

eHarmony
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Love is in the air for ProSiebenSat.1 and eHarmony. The German broadcaster has purchased the LA-based dating service through its newly formed e-commerce division, NuCom Group. The company plans to merge eHarmony with its own online dating platform, Parship. The parties agreed not to disclose the details of the transaction.

“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,” ProSiebenSat.1 CEO Max Conze said in a statement.

Parship is one of the most popular dating platforms in the German-speaking and Benelux regions. NuCom Group has developed the company into one of the most successful properties in its portfolio since acquiring a majority stake for €100 million in 2016. Like eHarmony, Parship is focused on long-term relationships and uses a compatibility algorithm based on a comprehensive questionnaire to match users in its database. Parship and sister brand ElitePartner is expected to have 2 million new registrations this year while eHarmony expects 2.8 million.

ProSiebenSat.1 sees eHarmony as an additional investment in one of NuCom’s key verticals, as well as an opportunity to increase Parship's international footprint. Given that eHarmony and Parship are already successful brands individually, ProSiebenSat.1 hopes combing the two will build a leading global matchmaking player with minimal effort and low risk.

Parship's innovative technology will serve as the basis for a new joint platform with eHarmony. eHarmony CEO Grant Langston will continue to manage the eHarmony business with Parship Elite Group management joining the Supervisory Board.

“eHarmony has supported millions of singles in finding the right partner for a happy relationship. Parship and ElitePartner follow the same successful approach,” said Tim Schiffers, CEO of Parship Elite Group. “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.“

Langston added: “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 acquisition is the latest move in ProSiebenSat.1’s push to diversify beyond its core commercial television properties. The addition of eHarmony will expand the company’s dating services in Canada, the United Kingdom, Australia and the United States. The US online dating market is one of the largest globally, estimated to be worth $3 billion. With 87% brand awareness, eHarmony is one of the best-known brands in that highly competitive space.

Though the statement from ProSiebenSat.1 did not disclose how much the company paid for eHarmony, Financial Times cited a source as saying the acquisition valued the business at $85 million. For more information on this dating service you can read our eHarmony review.