German broadcaster ProSiebenSat.1 has expanded its involvement in the e-commerce business by acquiring, through NuCom, the e-commerce arm it majority-controls, 100% of US online dating service eharmony.
NuCom and its portfolio company Parship Elite Group are acquiring 100% of eharmony. Parship Elite Group, which is majority-controlled by NuCom, is currently the leading online dating provider in the German-speaking and Benelux markets.
ProSiebenSat.1 sold a 25.1% stake in NuCom to US investment outfit General Atlantic in February as part of a move to diversify and expand its portfolio of non-TV-related digital assets. The deal, in which General Atlantic paid around €300 million, valued NuCom at around €1.8 billion.
ProSiebenSat.1 said the deal would enable Parship Elite Group’s expansion into the lucrative US online dating market, valued at around US$3 billion and growing at 11.9% a year.
Max Conze, CEO of ProSiebenSat.1 Media said: “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.”