MoneySupermarket acquires MoneySavingExpert for Â£87m

MoneySupermarket.com has conditionally agreed to acquire MoneySavingExpert as a going concern from founder Martin Lewis, for consideration of up to Â£87m.

MoneySavingExpert operates one of the UK's leading personal finance and personal finance journalism websites which was established in 2003 by personal finance journalist Martin Lewis.

According to Google Analytics, the MoneySavingExpert website attracted approximately 39 million unique visitors and approximately 277 million page impressions in the year ended 31 October 2011.

In the year ended 31 October 2011, MoneySavingExpert reported revenues of Â£15.773 million (2010: Â£11.361 million) and EBITDA of Â£12.642 million (2010: Â£8.379 million).

At 9:00am: (LON:MONY) share price was -0.7p at 115.2p

Story provided by StockMarketWire.com

01/06/2012