Zoopla Property Group Plc (ZPG) has agreed to acquire uSwitch, the UK’s #1 price comparison website and lead generation engine in the home services sector (energy and communications), for £160 million plus a performance-based earn out of up to £30 million.
Founded in 2000, uSwitch is one of the most widely recognised and trusted brands in the price comparison space and the acquisition by ZPG brings together two of the best-known and fastest growing digital businesses in the UK. ZPG plans to continue to lead innovation in the digital property space by creating a single resource where consumers will research, find and manage their home.
ZPG members will benefit from increased engagement with home movers and greater insight into their property requirements along with enhanced exposure to the further differentiated ZPG audience. ZPG is also developing new products that will create revenue opportunities for its members around home services switching. This transaction reaffirms ZPG’s mission to be the most effective marketing partner and lead generation engine for its members.
Alex Chesterman, Founder & CEO of Zoopla Property Group said, “This is a transformational deal for our business and our members. With the plans we have to develop our services, consumers will have a single resource for all their property needs and this enhanced engagement with our users will create unique advantages for our members. This acquisition is a natural next step in the evolution of property portals, creating the ultimate property platform for our users and the most effective lead generation engine for our members.”