Thursday, April 30, 2015

Property portal Zoopla buys price comparison site uSwitch

- British property search website Zoopla said it was buying price comparison service uSwitch for 160 million pounds ($247 million), to offer deals on home energy to the millions of customers that visit its websites and mobile apps. Alex Chesterman, Zoopla's founder and chief executive, said the deal bought together two of Britain's fastest-growing digital brands in home services."We currently offer a great service that helps consumers research the market and find their next home, now consumers will be able to use us to cut their energy deals, get a better broadband deal, find better home insurance and much more," Chesterman said on Thursday.Shares in Zoopla rose to a six-month high and were trading up 14 percent at 210 pence at 0821 GMT, as analysts said it was a sensible deal at a good price."It's a good fit with the existing Zoopla business, with the aim of creating a single resource where consumers can research, find and manage their home", analysts at Numis said. (Reporting by Paul Sandle; Editing by David Holmes)

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