Online matrimony company, Matrimony.com, has signed definitive agreements to acquire a 100% stake in Boatman Tech Private Limited, promoters of ShaadiSaga.com, a Delhi-based fast-growing online wedding services company.
The transaction is subject to customary closing conditions and regulatory approvals, a release said.
In addition to being the industry leader in the online matchmaking space, Matrimony.com is a pioneer in the Wedding Services industry as well, with its continued investments in this space and building a portfolio of offerings including WeddingBazaar.com and Mandap.com.
This deal enables Matrimony.com to scale up its presence significantly in the North and West regions, strengthen its product capabilities and become the largest Wedding Services player across the country.
Founded in 2015, ShaadiSaga is a leading player in the Wedding Services industry, with over 40,000 vendors across multiple services and catering to customers across 15 major cities in the country. Through a robust digital presence built with strong social media and content marketing capabilities, ShaadiSaga has garnered consistent demand (over 1 million MAU) and with its technology-focused approach, ShaadiSaga offers a differentiated product experience.
Following this acquisition, ShaadiSaga’s founders – Himanshu Kapsime (CEO) and Manish Garg (COO), along with another key leader – Niraj Patel (CPO) will join Matrimony.com in senior leadership roles.
Matrimony.com Chairman and Managing Director Murugavel Janakiraman said, “Wedding Services has immense potential to create a big impact with our customers. With this strategic acquisition, we will accelerate our growth through supply enhancement and superior product capabilities.”
“We intend to integrate ShaadiSaga’s product, technology and social media assets with our offerings i.e., WeddingBazaar.com and Mandap.com. With this approach, we believe that this deal will significantly strengthen the positioning of Wedding Bazaar.com and Mandap.com in the industry and will enable both brands to become the #1 wedding services brands pan India,” he added.
“We see excellent complementary strengths between ShaadiSaga & Matrimony.com and we are excited to take this step towards building a comprehensive wedding services brand,” said ShaadiSaga Co-Founder and CEO Himanshu Kapsime.
BharatMatrimony is considered the largest and most trusted matrimony brand which has also established a considerable retail presence with over 130 self-owned retail outlets across India.