Zoopla Group to buy Money.co.uk for £80mn in latest acquisition
Zoopla Group (ZPG) is to acquire Money.co.uk in a cash-free deal worth £80mn.
The transaction represents the most recent effort from the United Kingdom-based property portal to expand its portfolio, which now includes the likes of Expert Agent and USwitch.
Money.co.uk is one of the United Kingdom's most established financial services comparison sites, attracting two millions visitors to its platform every month.
Share prices in ZPG hit a record high back in May, with the FTSE 250 firm's six-monthly revenues rising to £117.9m - though the costs incurred from its various acquisitions hit profits.
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"We are delighted to announce this transaction," said Alex Chesterman, Founder and CEO of ZPG.
"Adding Money, one of the UK’s leading financial services comparison websites, to our existing brand portfolio will further enhance our product capabilities and consumer engagement across both our comparison and property platform."
Money.co.uk Founder and CEO Chris Morling added: "ZPG has led the way as an innovative digital consumer champion and we are looking forward to helping even more consumers make better-informed decisions as part of ZPG.”