Google buys Beatthatquote.comAcquisition finalised after OFT approval
15 August 2011
The Office of Fair Trading (OFT) has ratified the purchase of Beatthatquote.com, the price comparison site, by Google.
Google completed the purchase of Beatthatquote.com for £37.7 million in March 2011 but was obliged to notify the OFT under competition rules. The OFT announced that it would not refer the acquisition to the Competition Commission, concluding that Google's takeover would not lessen competition within the UK comparison site market.
Google purchase a 'tremendous opportunity'
Speaking at the time of the acquisition, Beatthatquote's managing director John Paleomylites said: 'We think this deal is a tremendous opportunity for our company to develop new and innovative options for personal finance in the UK. Our team is excited about becoming a part of Google.
'We look forward to working with their engineers to create new tools making it easier for consumers to choose the right financial products. We think we can offer more transparency and better pricing information than existing online offerings.'
To find out more about Beathatquote and other comparison sites, read the Which? price comparison site guide.
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