UK publisher snaps up shopping comparison business from Down Under
Magazine publisher Future has announced the acquisition of an Australian and south east Asian digital shopping comparison business.
The UK company behind Tech Radar and PC Gamer has completed a deal for Next Commerce.
The acquisition comes shortly after Future announced a £14.2m takeover deal for fellow UK publisher Imagine.
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Next Commerce reported revenue of AUS$3.3m (£1.9m) in the year to June.
It operates the Getprice.com.au and Pricepanda.com comparison shopping websites across Australia and south east Asia.
Getprice was founded in 2005 and claims to be Australia’s largest shopping comparison website, with more than 1,200 retailers using the website. Pricepanda was founded in Singapore in 2012 and now lists 5.8m products and has sites in five countries.
“This acquisition further diversifies our revenue, an important element of our strategy. It will also strengthen our presence in e-commerce, which is increasingly becoming a key part of our business,” said Future chief executive Zillah Byng-Thorne.
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“Over the last two years, we have demonstrated the significant value that can be created through combining high-quality content that connects with a consumer focussed e-commerce offering.
“We see good opportunities to grow by working closely with Next Commerce, who have developed market-leading e-commerce technology and practices for retailers, publishers and consumers in the fast growing Australian and SE Asian markets.”