Cheshire based Moneysupermarket make acquisition
Chester based Moneysupermarket has announced it is to acquire homes communications business Decision Tech in a £40m deal.
Decision Tech provides home communications comparison both as a B2B service and through its own consumer comparison brands such as broadbandchoices.co.uk.
As a white-label provider, Decision Tech sits behind several of the UK’s leading comparison tools for home communications, including Moneysavingexpert.com.
The acquisition supports Moneysupermarket’s strategy outlined in February to generate new market growth by taking price comparison to the user.
Decision Tech is headquartered in London and employs a team of over 40 staff. Following completion, Michael Phillips, founder and chief executive, and the Decision Tech management team will join the Group and continue to lead Decision Tech from their current offices in Holborn.
Mark Lewis, Moneysupermarket chief executive, 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.”
Michael Phillips, founder and chief executive of Decision Tech added: “I am delighted that Decision Technologies is joining the Moneysupermarket Group.
“This is a testament to our team’s dedication to technical innovation in creating cutting edge comparison solutions for our partners, and a first-class user experience for consumers looking to save money through our portfolio of brands.
“We are looking forward to being part of a group that shares our values and will open new opportunities for us to launch new products to our B2B partners and build the profile of our trusted consumer brands.”
