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Motoring.co.uk acquired by Moneyextra.com
Leading price comparison website Moneyextra.com today announces the acquisition of one of the UK's top motoring websites, motoring.co.uk.
John Elder, CEO at Moneyextra.com said: "The acquisition is part of an ongoing growth strategy which aims to raise the website's profile, following its recent change of ownership."
Moneyextra.com was established as the UK's first price comparison website 12 years ago, and has a growing user base of over 1.25 million monthly users. The acquisition of motoring.co.uk will strengthen the company's offering across the motoring industry - encompassing all aspects of buying, selling, hiring, financing and insuring a car online. motoring.co.uk will also strengthen Moneyextra.com's online proposition by uniquely broadening its comparison offering and further adding 200,000 monthly unique users to the fold.
Elder continued: "The acquisition of motoring.co.uk is inline with our strategy of acquiring market-leading businesses that complement Moneyextra.com's offering, and provide a unique selling point over our competitors. We have already acquired a mobile phone comparison site, Onecompare.com and will be looking at further opportunities as they present themselves. motoring.co.uk was an obvious fit and we are absolutely delighted to have completed the deal; we are looking forward to working alongside a highly-motivated management team to help position motoring.co.uk as the UK's leading motoring website." Chris Green, Managing Director at motoring.co.uk commented, "The sale of a controlling stake in motoring.co.uk and the investment this deal brings, offers us the opportunity to dynamically grow the business. As a mature organisation with a firm heritage in the market, Moneyextra.com offers us an established infrastructure, skilled people and the necessary funding to ensure we can effectively compete online."
"motoring.co.uk has already established itself as one of the UK's leading players and boasts the second largest car inventory online. Our unique search facility is already making waves with consumers, and represents an attractive proposition for dealers and manufactures looking to execute highly-targeted marketing campaigns.
"We are excited about the opportunities that lie ahead, and look forward to growing the business and sharing our success with our dealer partners."
For more information relating to this press release, please contact: Winston Eavis, Weber Shandwick, weavis@webershandwick.com Jennifer Rose, Moneyextra.com, Jennifer.rose@moneyextra.com |