Google buys BeatThatQuote

Google has bought UK price comparison site BeatThatQuote.com for £37.7m as it continues to diversify from its core search offering.

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BeatThatQuote compares prices for finance products including loans, insurance and utilities, although it does also provide a more generic shopping comparison service.

Last year it partnered with Oxfam to launch Compare For Good, a comparison site that donates two-thirds of its revenue to Oxfam.

Its acquisition by Google is the latest step in the search giant’s growing interest in the comparison market. Last year it launching a trial service letting consumers compare credit cards.

The trial, called Comparison Ads, let users compare credit card rates from lenders including Barclaycard, American Express and MBNA under variables including interest rates, balance transfers and annual fees.

Google has faced criticism in the last year, not least from comparison site Foundem, that it is biased towards its own properties within its search results. Complaints have led to a formal investigation by the European Commission into whether Google has abused its dominant market position.

No details have yet been released on how BeatThatQuote will operate following the deal.

John Paleomylites, BeatThatQuote MD, says: “We think this deal is a tremendous opportunity for our company to develop new and innovative options for personal finance in the UK.”

Google recently announced the launch of group buying site to cash in on the growing trend for social commerce.

This story first appeared on newmediaage.co.uk

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