LONDON (Alliance News) - Moneysupermarket.com Group PLC said Tuesday that it has agreed to acquire Decision Technologies Ltd, a mobile phone and home communications comparison business for GBP40 million in cash.
Moneysupermarket said the acquisition supports its strategy outlined in February to generate new market growth by taking price comparison to the user.
The company noted that Decision Tech has one of the most "advanced and scalable business-to-business comparison offerings in the UK" and that this is ideally suited to offering Moneysupermarket's wider comparison services to new audiences.
Moneysupermarket Chief Executive Officer Michael Phillips commented: "We said we would be working to take price comparison to users via sites they regularly visit on their mobiles, and Decision Tech's business-to-business operation does just that."
Decision Tech is headquartered in London and employs a team of over 40 staff. Following completion, Michael Phillips, Decision Tech founder and chief executive, will join Moneysupermarket but continue to lead Decision Tech from its current office in Holborn.
Shares in Moneysupermarket were up 0.8% on Tuesday morning at 314.20 pence each.
Moneysupermarket.Com (MONY)