Moneysupermarket swoops for Decision Tech in £40m deal
Moneysupermarket has struck a deal to acquire Decision Technologies, a home communications and mobile phone comparison business, for £40m.
Decision Tech provides home communications comparison both as a B2B service and through its own consumer comparison brands such as broadbandchoices.co.uk.
As a white-label provider, the company sits behind several comparison tools for home communications, including Moneysavingexpert.com.
"I am delighted that Decision Technologies is joining the Moneysupermarket Group," said founder and CEO Michael Phillips.
"This is a testament to our team's dedication to technical innovation in creating cutting edge comparison solutions for our partners, and a first-class user experience for consumers looking to save money through our portfolio of brands.
"We are looking forward to being part of a group that shares our values and will open new opportunities for us to launch new products to our B2B partners and build the profile of our trusted consumer brands."
Decision Tech is headquartered in London and employs a team of over 40 staff.
Michael Phillips and the rest of the management team will join Moneysupermarket and continue to lead the business from its current offices in Holborn.
Mark Lewis, Moneysupermarket CEO, added: "We said we would be working to take price comparison to users via sites they regularly visit on their mobiles, and Decision Tech's B2B operation does just that.
"Decision Tech is one of the UK's leading platforms for helping consumers compare and choose home communications, broadband and mobile phone deals. This is an area people find complex and confusing, and where there are plenty of savings to be made by customers."