updated 01/17/2013 AT 7:00 AM ET
•originally published 01/17/2013 AT 9:00 AM ET
Fifth Harmony and One Direction have a lot in common.
Both groups auditioned as five individuals before being put together by The X Factor mentors. Both groups went on to place third on their seasons. And, now, both groups have been signed by their X Factor mentor Simon Cowell.
“I knew from the girls’ first performance at the judges’ homes that we’d done the right thing,” Cowell, in an exclusive statement, tells PEOPLE of Fifth Harmony. “The chemistry between the girls both on stage and off is fantastic, and they are incredibly talented.”
Fifth Harmony’s Ally Brooke, 19, Camila Cabello, 15, Normani Hamilton, 16, Dinah Jane Hansen, 15, and Lauren Jauregui, 16, developed a loyal fan base of “Harmonizers” during the Fox reality show’s second season and have now signed a recording deal with Cowell’s Syco Music and fellow X Factor mentor L.A. Reid’s Epic Records.