Zoopla Property Group has acquired uSwitch, widely considered to be the UK’s leading price comparison website.
It also generates high volumes of leads for energy and communications firms, which Zoopla says it wants to fuse into agency leads, too.
The deal is worth £160 million plus a ‘performance-based earn out’ for existing management of up to £30 million.
In a statement to the City this morning ZPG says it plans to continue to lead innovation in the digital property space by creating “a single resource where consumers will research, find and manage their home.”
Agents already with Zoopla will benefit from what the site calls “increased engagement with home movers and greater insight into their property requirements” - along with a potentially much larger audience, too.
ZPG says it is also developing new products that will create revenue opportunities for its members around home services switching.
ZPG chief executive Alex Chesterman says: “This is a transformational deal for our business and our members. With the plans we have to develop our services, consumers will have a single resource for all their property needs and this enhanced engagement with our users will create unique advantages for our members. This acquisition is a natural next step in the evolution of property portals, creating the ultimate property platform for our users and the most effective lead generation engine for our members.”