Home telecoms and mobile phone comparison site Decision Tech has been snapped up by Moneysupermarket.com for £40m.
Moneysupermarket.com has agreed to acquire BGF-backed Decision Tech following a period of acquisitive expansion and growth.
The acquisition supports Moneysupermarket's strategy outlined in February to generate new market growth by taking price comparison to the user.
BGF invested £10m into the company back in 2012, which has helped founder and CEO Michael Philips build a business of scale in the price comparison market.
Following the investment, the company made four acquisitions – including sellmymobile.com and comparemymobile.com – and invested in marketing, operations and its proprietary technology to support growth.
Following the acquisition, Michael Philips and the team will join the Moneysupermarket Group and continue in their roles. Chairman Peter Opperman, who was introduced by BGF and has provided strategic guidance to the company, will step down from the board.
Philips said: “I am delighted that Decision Tech is joining the Moneysupermarket.com Group. 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.
“I would like to personally thank BGF and our non-executive Board team, who have been a constant in their support and encouragement.”
Mark Lewis, Moneysupermarket CEO, said: "We are delighted to announce this transaction and I look forward to welcoming Michael and his team to the Moneysupermarket Group. 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".
The advisors to the transaction were BDO (Financial) and Squires Patton Boggs (Legal) for DTL and EY (Financial DD) and HSF (Legal) for Moneysupermarket.
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