GoCompare’s market value has increased after the company announced plans to purchase MyVoucherCodes, a large UK based discount listing website.
After this announcement, GoCompare’s shares rose 4%. The company promised investors that site visits would rise by over 100 million thanks to the purchase of the other discount deals site.
Digital payments group Monitise has been looking to sell MyVoucherCodes recently, and see the deal with GoCompare to be a great move for both of them. This sale will make them 9x more money than their current forecast predicted at the start of the business year.
GoCompare’s offer was taken over a recent push by Zoopla to pick up MyVoucherCodes. Zoopla offered 110p, but was overtaken and withdrew once GoCompare threw their hat into the ring.