Google has bought UK price comparison site BeatThatQuote.com for £37.7m ($61m), as the search giant looks to boost its presence in the so-called ‘vertical search’ sector to cover specific areas of interest in more depth.
BeatThatQuote provides comparisons between financial products such as mortgages, insurance and credit cards. The firm described the deal as a “tremendous opportunity for our company to develop new and innovative options for personal finance in the UK.”
BeatthatQuote.com also syndicates the comparison content to third party sites which rebrand the data in order to provide their own price comparison service. It’s likely this aspect which was of most interest to Google.
“Our team is excited about becoming a part of Google,” wrote beatthatQuote.com boss John Paleomylites. “We think we can offer more transparency and better pricing information than existing online offerings.”
The purchase will give Google access to software that allows consumers to compare the price of products in areas including personal finance, insurance and legal services.
“With their expertise and our technology, we will be able to provide new and innovative ways for consumers to find the right financial products and save money,” Google said in a statement.
Google is hoping the move will expand its online presence into the so-called ‘vertical search’ market – sites which focus on a specific sector or service, such as financial services or travel.
The search giant already runs a service called Comparison Ads in the US, a company that highlights different prices in the credit card and mortgage markets.
