Google has acquired "BeatThatQuote.com," a UK price comparison site focused on personal finance products. The site offers comparison pricing on loans, mortgage rates, credit card rates, insurance products and more.
A post on BeatThatQuote.com's site by Managing Director John Paleomylites announced the deal:
BeatThatQuote.com today was sold to Google for GBP37.7 million. We think this deal is a tremendous opportunity for our company to develop new and innovative options for personal finance in the UK.
Our team is excited about becoming a part of Google. 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're 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.
This is Google's fifth major acquisition of the year. Further proof that after acquiring 48 companies last year, a company record, Google will "continue to be aggressive" this year in targeting "small start-ups that can be a source of new technology, talented engineers and revenue," as David Lawee, of Google told The Wall Street Journal.