GUS hands over $485m for PriceGrabber.com
GUS plc - the UK-based retail and business services group that owns Argos and Experian - is forking out $485m for shopping comparison site PriceGrabber.com.
The US outfit enables punters to check out the prices of thousands of different products on offer from retailers enabling them to compare items before making a purchase.
GUS reckons the site is a perfect fit for its business by giving its retail and catalogue clients yet another channel to market.
Last month PriceGrabber.com attracted some 17m visitors to the site while over the last 12 months it has generated sales of $60m and earnings before interest and tax of $25m.
Experian chief exec Don Robert said PriceGrabber.com has a "leading position in a fast-growing market".
"When combined with the complementary skills, expertise and scale of Experian, in both interactive and marketing, we are very excited about the future growth prospects for PriceGrabber.com," he said.
In May, Experian shelled out $330m to acquire US online business LowerMyBills.com, which provides customers with a free online service to compare prices for everyday products such as loans, mortgages, insurance and phone tariffs. ®