UK price comparison website BeatThatQuote.com has been bought by Google for stg£37.7m (US$61.5m). The site allows consumers to search for and compare prices for services like insurance and utilities.
“BeatThatQuote.com today was sold to Google for stg£37.7 million,” John Paleomylites, the company’s managing director announced on the site today.
“We think this deal is a tremendous opportunity for our company to develop new and innovative options for personal finance in the UK,” Paleomylites said.
Google’s acquisition of the company could be central to its efforts to take on players like Groupon in the market for deals and financial comparisons.
New tools to help consumers choose financial products
“Our team is excited about becoming a part of Google,” Paleomylites continued.
“We look forward to working with their engineers to create new tools making it easier for consumers to choose the right financial products. We think we can offer more transparency and better pricing information than existing online offerings.
“We are confident that by combining BeatThatQuote.com’s expertise in UK financial products with Google’s technology, we’ll accelerate innovation in this field, benefiting consumers and the companies offering these products. We plan to keep working with our current partners and look forward to working with new ones, too,” Paleomylites said.