GUS buys price comparison website PriceGrabber.com |
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Wed, 14 Dec 2005 14:05
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LONDON: British retail group GUS Plc, today said it bought U.S. based price comparison website PriceGrabber.com for £274m. The new acquisition would become part of Experian - the retailer’s credit checking division.
Set up in California in 1999, PriceGrabber allows users to compare prices of products ranging from clothing to computers from over 9,000 online retailers. PriceGrabber receives a fee from retailers every time it directs a user to their website. Last month, the retail price database had counted over 17 million visitors. The online service firm currently employs 140 people and expects full year sales to reach £33.7m ($60m).
| Its new owners see exciting future growth prospects by combining it with the interactive and marketing expertise of Experian, the retailer said in a statement to the Regulatory News Service.
London-based GUS is Britain’s second largest retailer by market value. The acquisition of PriceGrabber.com plus expenses, were funded by the retailer’s existing bank facilities. There are many alternatives such as Kelkoo, Yahoo Shoping, Shopping.com, which went public several months ago and of course Froogle, the free to list Google offering.
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