Matrimony.com has acquired a stake in the astrology content and horoscope software provider, Astro-Vision. The leading matchmaking website has taken control of a 26.1% share for an undisclosed sum.
The Murugavel Janakiraman-led Matrimony.com runs a slew of websites catering to various segments of the market going online to find their spouses, and provides services related to wedding halls and photography.
According to a release, Astro-Vision provides Vedic astrology content and offers software that can generate horoscopes. Matrimony.com said its new subsidiary has generated more than 110 million horoscopes to date.
Murugavel Janakiraman, Chairman and Managing Director of Matrimony.com, said astrology was critical to a match on the company website.
“A majority of our customers generate horoscope prediction using Astro-Vision’s software.”
Arjun Ravindran Pandarath, Managing Director of Astro-Vision said: “We are excited about this strategic investment as it creates tremendous opportunities to scale and enhance our positioning through technology and marketing.”
The news of the acquisition follows Matrimony.com’s release of their quarterly financial report, which shows a significant increase in revenue from December 2018 to December 2019, as well as a marked increase on pre-tax profits.
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