Google snaps up UK comparison site

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The Independent Online

The internet search giant Google yesterday bought the personal finance comparison site BeatThatQuote.com in a £37.7m deal. The website offers comparison data on credit cards, mortgages, insurance, legal services, utilities and shopping as well providing data to others, including The Independent's comparison site at compare.independent.co.uk.

John Paleomylites, the managing director of BeatThatQuote.com, said: "This deal is a tremendous opportunity for our company. By combining our expertise in UK financial products with Google's technology, we'll accelerate innovation in this field. We think we can offer more transparency and better pricing information than existing online offerings."

Last week the rival comparison website Confused.com reported a profit slump of 34 per cent as it lost audience share to GoCompare.com and CompareTheMarket.com.

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