Acquisition of MoneySavingExpert

RNS Number : 7744M

Moneysupermarket.com Group PLC

20 September 2012

 



MoneySupermarket.com Group PLC - completion of acquisition of MoneySavingExpert

20 September 2012

MoneySupermarket.com Group PLC ("MoneySupermarket.com") announces that the acquisition of MoneySavingExpert will complete at 8.00am tomorrow when the 22,123,894 ordinary shares due to Martin Lewis are admitted to the Official List and to trading on the London Stock Exchange.

MoneySavingExpert was established in 2003 by Martin Lewis and is one of the UK's leading personal finance and personal finance journalism websites, with reported revenues of £15.773 million and EBITDA of £12.642 million in the year ended 31 October 2011.

MoneySupermarket.com and MoneySavingExpert have worked closely together for a number of years with the common goal of helping customers save money. The acquisition supports MoneySupermarket.com's strategy through enhancing Moneysupermarket.com's brand and user content; growing direct-to-site revenues and improving the customer experience; and utilising Moneysupermarket.com's skills to optimise MoneySavingExpert's website and user experience. 

On completion, Martin Lewis will remain as editor-in-chief of MoneySavingExpert.  MoneySupermarket.com intends to preserve the editorial independence of MoneySavingExpert through an agreed editorial code.

 

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