XLMedia Buys Www.MoneyUnder30.Com For USD7.0 Million

LONDON (Alliance News) - Marketing company XLMedia PLC on Monday announced it has brought US ...

Alliance News 14 August, 2017 | 9:03AM
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LONDON (Alliance News) - Marketing company XLMedia PLC on Monday announced it has brought US financial services comparison website, www.moneyunder30.com, for USD7.0 million.

The AIM-listed company said the acquisition will broaden its financial services footprint and its reach in North America. The acquisition is expected to immediately add to earnings.

The website, which compares credit cards, loans, mortgages and savings accounts, complements XLMedia's other recent acquisition of www.greddyrates.ca, a Canadian credit card comparison website.

The company said the US is loan market is "growing steadily" and according to the US Federal Reserve, total outstanding consumer credit increased 30% from 2012 to 2016 and reached USD3.80 trillion in May, which represented a compound annual growth rate of 6.6%.

XLMedia Chief Executive Ory Weihs said: "We are delighted to have extended our North American reach with the acquisition of MU30, which complements our existing publishing assets in the financial services sector."

"As a leading personal finance review site, MU30 is a known publisher in the US, and with its existing footprint and brand recognition, it represents an excellent opportunity for XLMedia to increase its North American presence and expand within the financial services market," Weihs added.

By Maryam Cockar; maryamcockar@alliancenews.com; @MaryamCockar

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
XLMedia PLC 100.40 GBX -0.10 -
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