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Moneysupermarket to buy Decision Tech for £40m
Moneysupermarket has agreed to buy home communications and mobile phone comparison business Decision Tech for £40m.
The company said the deal is a "strong fit" with the strategy of reaccelerating core growth and driving new market growth.
Based in London with a team of more than 40 staff, Decision Tech provides home communications comparison both as a B2B service and via its own consumer comparison brands such as broadbandchoices.co.uk. Moneysupermarket said that as a white-label provider, it sits behind several of the UK's leading comparison tools for home communications, including Moneysavingexpert.com.
It said the deal "significantly" improves the group's B2B capability to respond to new and growing demand and will integrate with the newly completed technology infrastructure, including across the existing money, energy and insurance channels. In addition, it boosts the company's home communications offering and strengthens Moneysupermarket's lead as "the most diversified comparison group".
Following completion, Michael Phillips, founder and CEO, and the Decision Tech management team will join Moneysupermarket and continue to lead Decision Tech from their current offices in Holborn.
Moneysupermarket chief executive Mark Lewis said: "We are delighted to announce this transaction and I look forward to welcoming Michael and his team to the Moneysupermarket Group. We said we would be working to take price comparison to users via sites they regularly visit on their mobiles, and Decision Tech's B2B operation does just that.
"Decision Tech is one of the UK's leading platforms for helping consumers compare and choose home communications, broadband and mobile phone deals. This is an area people find complex and confusing, and where there are plenty of savings to be made by customers."