VedaCorp advises Matrimony.com in its acquisition of minority stake in Astro Vision

Consumer Internet

DATE March, 2020

TYPE M&A

About

Matrimony.com

Matrimony.com is India’s leading consumer Internet Company. The company manages marquee brands such as BharatMatrimony, CommunityMatrimony and EliteMatrimony and is considered the largest and most trusted matrimony brand in the country. The Company has pioneered several new business models such as MatrimonyPhotography, MatrimonyBazaar, MatrimonyMandaps, and CommunityMatrimony, a consortium of over 300 community matrimony websites.

Astro-Vision Futuretech Pvt. Ltd

Astro-Vision Futuretech Pvt. Ltd has pioneered the development of astrology software in India, delivering a range of highly successful real-time astrology solutions, meant for consumers interested in astrology as well as professional astrologers. The company has been the flag bearers in promoting Vedic astrology knowledge, having generated more than 110 million horoscopes till date in 11 different languages and continuing to provide services to people in 170 countries around the globe.

Background

We are pleased to announce the acquisition of minority stake by our client (Matrimony.com Limited Matrimony.com) in Astro-Vision Futuretech Pvt. Ltd. (Astro-Vision).

This is our fourth transaction with Matrimony.com and marks the completion of 15 years of relationship with the company as its trusted advisor.

Matrimony.com is India’s leading consumer Internet Company. The Company delivers matchmaking and marriage related services to users in India and the Indian diaspora. It manages marquee brands such as BharatMatrimony, CommunityMatrimony and EliteMatrimony.

Astro-Vision is a pioneer in the development of astrology software in India and delivers a range of highly successful real-time astrology solutions, meant for consumers interested in astrology as well as professional astrologers.

Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to transaction. VedaCorp provided comprehensive transaction advisory services including deal structuring and negotiation of key commercial terms, leading to the successful closure of the transaction.

“VedaCorp has been our trusted partner in our journey right from our early days and is now playing an active role in our inorganic expansion plans too. They have been pro-active in identifying targets, shortlisting them based on fitment and guiding us through the full process of deal negotiation and transaction closure.

Astrology is core to our match-making business and majority of our customers generate horoscope prediction using Astro-Vision’s software. With the strategic investment we see further synergies in enhancing our value-add to our customers and also accelerate the growth of Astro-Vision.”

Murugavel Janakiraman

Founder and CEO, Matrimony.com

“Matrimony.com is well on its way to becoming the dominant leader in the full gamut of matrimony-related services! Inorganic growth through niche acquisitions is a key aspect of this growth and VedaCorp is proud to continue to partner with Matrimony.com in their fascinating journey, as their trusted advisor.”

Srikanth Narasimhan

Co-Founder of Veda Corporate Advisors