Google has acquired UK price comparison site BeatThatQuote for £37.7m.
The privately-held, six-year old outfit has been growing fast in the competitive price comparison market, despite posting a £2 million loss on £8.5 million in revenues for the year ended January 2010.
Commenting on the deal, BeatThatQuote founder John Paleomylites, says: "We are confident that by combining BeatThatQuote.com's expertise in UK financial products with Google's technology, we'll accelerate innovation in this field, benefiting consumers and the companies offering these products."
Google has been expanding its reach into vertical market search sectors of late. Last year the company tried out its AdWords Comparison Ads service for credit card quotes on the UK market, after an initial launch for mortgage searches in the US. While the US service has been expanded to incorporate current accounts, savings accounts and certificates of deposit, the UK offering has witnessed little advance.