GoCompare buys MyVoucherCodes.co.uk for £36.5m

GoCompare, the price comparison internet firm, has acquired MyVoucherCodes.co.uk from Monitise for £36.5m.

MyVoucherCodes.co.uk is one of the UK's largest online voucher code sites with eight million e-mail subscribers and a website which receives c.45 million annual visits, according to GoCompare.

Rationale

The price comparison firm claimed the acquisition would further its mission to “help people everywhere save time and money”, as both businesses focus on enabling people to make better-informed decisions about their purchases.

“GoCompare believes the acquisition will increase the opportunities for frequency of engagement with savvy savers who use both comparison and voucher websites, introduce offers to incentivise conversion on both GoCompare and MyVoucherCodes, and provide a new channel for existing GoCompare partners,” said the company in a statement.

MyVoucherCodes claims to work with more than 3,000 retail brands.

Scale

“MyVoucherCodes has achieved significant scale in the UK over the last 10 years and the acquisition brings relationships with some of the largest online retailers in the UK across numerous industries, including ASOS, Sky, Expedia and many more. It also provides a platform that we can leverage for further growth," said Faisal Galaria, chief strategy & investment officer at GoCompare.

The current owner of MyVoucherCodes, UK fintech name Monetise, was itself acquired by US fintech player Fiserve in September.