Moneysupermarket acquires cashback platform Quidco
Moneysupermarket.com has agreed to acquire the cashback website Quidco.
Moneysupermarket.com Financial Group has agreed to buy all of the issued share capital of Maple Syrup Media, trading as Quidco, on a debt-free, cash-free basis.
The initial consideration is £87m in cash with a further £14m deferred.
Moneysupermarket.com said Quidco would benefit from its capabilities, including data analytics, SEO expertise and upgraded customer relationship management.
The company will look to “expand and deploy” the cashback platform’s capabilities into other group brands.
The acquisition is expected to be earnings accretive in 2022.
Quidco delivered revenue of £59.2m for the year ending July 31 2021, with adjusted EBITDA growing significantly year on year to £7.9m.
Peter Duffy, CEO of Moneysupermarket Group, said: “We welcome Quidco: a profitable, successful business, with strong consumer engagement and high growth potential.
“We have experience of bringing complementary businesses into the Group and helping them thrive while sharing their capabilities more widely. Our growing stable of well-known and trusted consumer brands will provide households with an even more compelling savings offer.”