Moneysupermarket.com, based in Chester, has completed the £40m purchase of comparison site counterpart Decision Technologies Limited. Home telecoms and mobile phone comparison site Decision Technologies is backed by investment company BGF who have invested £10m into the firm since 2012.
Mark Lewis, Moneysupermarket chief executive officer, said in a statement: “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.”
The advisors to the transaction were BDO and Squires Patton Boggs for DTL and EY and HSF for Moneysupermarket.