Zoopla Agrees Deal To Buy uSwitch
The Zoopla Property Group (ZPG) has agreed a deal to acquire uSwitch, the price comparison site that allows consumers to hunt down deals from energy and communication suppliers. Zoopla the online estate agent - the second biggest UK online property site after Rightmove - now looks to become a one-stop shop for home buyers and renters as it moves to expand into energy sales.
Alex Chesterman, Zoopla's founder, said: "We have always been at the forefront of innovation in our industry and this deal brings together two of the UK's best known and fastest growing digital brands. It's a natural next step towards creating the ultimate platform where consumers can research, find and manage their home. With the plans we have to develop our combined services, consumers will have a single resource for all their property needs".
He added that uSwitch would continue to operate as a stand alone brand and platform and its management team would remain in place under chief executive Steve Weller, who also believes the takeover would be good for consumers. Mr Weller said:"I am immensely proud of everything that we have achieved over the last 15 years and look forward to the next phase of our journey. Consumers need our support now more than ever before and with ZPG's impressive credentials as an innovative, consumer-empowering business, I am confident that we will be able to help even more people save money on their household bills".
Zoopla expects the acquisition of uSwitch, owned by Ulysses Enterprises, to be completed by the end of June.
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Written by Deb Roberts
Source Estates IT Ltd