Moneysupermarket has confirmed the completion of its acquisition of UK performance marketing and data group Decision Tech, with the deal expected to go through within the next two weeks.
Decision Tech is a home communications and mobile phone comparison business that operates comparison services via its own websites including Moneysavingexpert.com and broadbandchoices.co.uk in addition to supplying white label technology to other brands.
The news follows MoneySuperMarket’s announcement of the deal earlier this year, which will see the now acquired company and its 40-strong headcount operate as an “arms-length” subsidiary business from its Holborn headquarters in London under the continued watch of current CEO Michael Phillips, who along with his management team will now join the Moneysupermarket group.
"Following the acquisition, we look forward to helping more people save more money from their home bills, by making it easier for people to find the best deals in the market across many categories, especially the growing home communications market,” said Moneysupermarket in a statement.
The deal has also cleared the exit for minority shareholder BGF, which has backed Decision Tech with £10 million growth capital since 2012.
“This is really exciting for the business and certainly the outcome we were hoping for. From a day to day point of view, our strategy, at its core, is unchanged," said Phillips.
"We are committed to maintaining our trusted reputation and providing the same level of impeccable service, offering a strategic distribution channel for our providers, and, for our white label customers, a technology platform that enables consumers to compare broadband and mobile deals. That said, we are looking forward to the increased capacity for innovating new user journeys and building new white label platforms using the Moneysupermarket Group’s presence in Energy, Personal Finance and Insurance.”