GoCompare.com Group plc has reached an agreement to acquire The Global Voucher Group Limited, which trades as MyVoucherCodes, and its subsidiaries from Monitise Limited for £36.5m in cash, on a cash-free, debt-free basis. The acquisition will be financed through a combination of existing cash resources and an extension to GoCompare’s existing credit facilities.
MyVoucherCodes.co.uk is one of the UK’s largest online voucher code sites with eight million e-mail subscribers and a website which receives around 45 million annual visits. As such, MyVoucherCodes benefits from industry-leading commercial relationships, working with more than 3,000 retail brands.
Matthew Crummack, CEO of GoCompare, said, “We are delighted with this acquisition which will complement the services offered by GoCompare. We are making strong progress towards our ambition to become the ‘go-to’ place for savvy savers to find great deals, and for service providers to reach and acquire customers.”
UK, Newport & London