Matrimony.com to acquire 100 % stake in Boatman Tech Pvt Ltd
This deal will help Matrimony.com to scale up its presence in the North and West regions
A Chennai-based online matrimony company, Matrimony.com, has signed a definitive agreement to acquire a 100% stake in Boatman Tech Pvt Ltd. promoters of ShaadiSaga.com, a Delhi-based online wedding services company for INR 11 crore in all-cash consideration, stated by an announcement by Matrimony.com to the Bombay Stock Exchange.
This deal will help Matrimony.com to scale up its presence in the North and West regions. To strengthen its product capabilities and become one of the most prominent wedding service players in India, according to a release from Matrimony.com. Founded in 2015, ShaadiSaga has over 40,000 vendors across multiple services and caters to customers across 15 major cities. Following this acquisition, ShaadiSaga’s founders - Himanshu Kapsime and Manish Garg - will join Matrimony.com in senior leadership roles, according to the release.
Murugavel Janakiraman, Chairman and Managing Director of Matrimony.com, said that the company would accelerate growth through supply enhancement and superior product capabilities with this acquisition. He further added that the company intends to integrate ShaadiSaga’s product, technology, and social media assets with its offerings, including WeddingBazaar.com and Mandap.com. The deal will strengthen the positioning of Wedding Bazaar.com and Mandap.com in the industry and will enable both brands to become the number one wedding services brands pan India.
