3rd Jan 2017 07:43
LONDON (Alliance News) - Digital marketing services company XLMedia PLC on Tuesday said it has agreed to pay USD9.3 million to acquire Canadian credit card comparison site Greedyrates.ca.
XLMedia will pay for the firm in cash and said the deal marks its first significant acquisition in the financial services segment, a key growth area for the UK group. XLMedia added the deal will boost its presence in the North American market.
It will integrate Greedyrates into its Palcon Infrastructure unit.
"We are delighted to announce the acquisition of Greedyrates, our first significant publishing asset in the financial services sector. As a leading credit card comparison site Greedyrates is a household name in Canada and, with its existing footprint and brand recognition, it represents an excellent opportunity for XLMedia to increase its North American presence and establish a foothold in the financial services market," said XLMedia Chief Executive Ory Weihs.
XLMedia briefly also said it is trading in line with expectations.
By Sam Unsted; [email protected]; @SamUAtAlliance
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