UK price comparison website Beatthatquote.com was acquired by the world’s biggest search engine company Google for £37.7 million ($61 million).
The acquisition will open the door for Google to enter a market which has been growing steadily. The software application allows customers to compare prices of products and services, including legal services and personal finance products such as insurance and mortgages.
In the US, Google runs a somewhat similar service called comparison ads.
“With their expertise and our technology, we will be able to provide new and innovative ways for consumers to find the right financial products and save money”, said Google about the acquisition.
Explaining the rationale behind the move, analysts said that Google is expanding its presence in the so-called ‘vertical search’ domain, sites which target specific product or service segments, such as travel or finance.