Chennai-based publicly-listed online match-making company Matrimony.com on Wednesday announced that it has signed definitive agreements to acquire a 100% stake in Boatman Tech, promoter of ShaadiSaga.com, a Delhi-based online wedding services company, for an undisclosed sum.
Matrimony.com is a major player in the wedding services industry as well, with its investments in the space and building a portfolio of offerings including WeddingBazaar.com and Mandap.com.
The deal will enable 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.
Murugavel Janakiraman, chairman and MD, Matrimony.com 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. With this approach, we believe that this deal will significantly strengthen the positioning of WeddingBazaar.com and Mandap.com in the industry and will enable both brands to become the number one wedding services brands pan India”.
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.
Following the 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.
“We see excellent complementary strengths between ShaadiSaga and Matrimony.com and we are excited to take this step towards building a comprehensive wedding services brand. With Matrimony.com, we have the potential and ability to significantly scale the business and drive consumer adoption of an industry-leading next-gen wedding planning solution,” said Himanshu Kapsime, co-founder & CEO of ShaadiSaga.