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Moneysupermarket.com buys MoneySavingExpert for £87m

Price comparison site MoneySupermarket.com is set to acquire MoneySavingExpert for £87m.

Martin Lewis 150x125

MoneySavingExpert was established in 2003 by personal finance journalist Martin Lewis.

Lewis will become an employee of the MoneySupermarket.com group once the deal is completed and will be editor-in-chief of MoneySavingExpert.

A £35m upfront cash payment will be made as part of the deal alongside approximately 22.1m MoneySupermarket.com shares. There is also a deferred consideration of up to £27m subject to performance.

The deal is set to be concluded in September or October and is subject to MoneySupermarket.com shareholder approval.

The MoneySavingExpert website offers free online services and editorial on credit cards and loans, shopping, deals and vouchers, utilities and phones, banking and saving, travel and motoring, insurance, mortgages and homes, and income and family.

MoneySupermarket is a price comparison website which covers the likes of mortgages, credit cards and loans.

Lewis says the deal will see MoneySavingExpert retain its editorial independence. Lewis will be giving £10m to charity including £1m to Citizens Advice

MoneySupermarket Group chief executive Peter Plumb, says: “We’ve worked closely together for years with the common goal of helping customers save money. By joining forces we can get more people to save more money.

“We’ll help MoneySavingExpert.com reach a wider audience and MoneySavingExpert.com will broaden the range of advice and tools we offer, encouraging even more people to take action, tap into the benefits of the internet to find a better deal and make the most of their money.”

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  • Sara Scott 7th June 2012 at 10:22 am

    I think this deal makes financial sense for Martin but is a shame because it compromises the credibility of MoneySavingsExpert.com and of Martin as a consumer champion. MoneySupermarket is by no means an independent comparison website – it’s all about the commission. They seem like two quite different organisations so I don’t see how this is going to work.

  • Craig Tebbutt 1st June 2012 at 8:29 pm

    Well done Martin, a great piece of business.

  • Jonathan Miller 1st June 2012 at 4:09 pm

    Will be interesting how OFCOM now view an employee of Moneysupermarket.com on all the consumer programmes driving traffic to the site

  • Sub Prime Kabooooom 1st June 2012 at 1:39 pm

    Luke……..spot on.

  • Luke Atkinson 1st June 2012 at 12:19 pm

    Well done to Mr Lewis, another great example of a British entrepreneur. Also giving £10 million to charity shows the good nature of the man.

  • Ian Andrews 1st June 2012 at 11:17 am

    Although I don’t give a toot about how much Lewis made, to masquerade as comparison sites is a grotesque distortion of the truth. Both sites are owned and/or completely dominated by the high street banks. As evidence, just try listing a competitive product or service on there.
    The market is wide open for the comparison equivalent of a free house.

  • Ian Andrews 1st June 2012 at 11:16 am

    Although I don’t give a toot about how much Lewis made, to masquerade as comparison sites is a grotesque distortion of the truth. Both sites are owned and/or completely dominated by the high street banks. As evidence, just try listing a competitive product or service on there.
    The market is wide open for the comparison equivalent of a free house.

  • Maxine 1st June 2012 at 10:48 am

    Martin Lewis never claimed to be doing this for charity! Fair play to him, he’s achieved what we’d all wished we’d had the foresight to do years ago and cornered a very lucrative market. Enjoy your spoils Martin …

  • Joseph Stalin 1st June 2012 at 10:44 am

    Is everyone a communist on here or have you simply taken leave of your senses? MoneySavingExpert was obviously a business like any other, what did you think it was, a charity? He’s also given £10m to charity, which without wanting to damn the entire industry, is vastly more than I or anyone else has donated I’m sure.

  • Chris Gardner 1st June 2012 at 10:40 am

    Good on him. At least he found a way to make money

  • Bob Riach Riach IFA 1st June 2012 at 10:38 am

    So Money Supermarket will now receive the commission that Martin got from all the affiliate links to products and adverts on the site.
    How much has Martin made from this site since launch?
    he says that he is credible, however he makes a living from this site, otherwise Money Supermarket would not have bought it

  • Richard 1st June 2012 at 10:23 am

    I for one, will never use Money Saving Expert again,
    it just goes to show the peoples champion, is just as greedy and underhand as the people he is supposed to be against, nice one Martin

  • Lee 1st June 2012 at 10:20 am

    He must be the only person who can make money by pretending to give advice, then sticking a disclaimer at the bottom of his page saying he doesn’t and to seek independent advice. He expects them to do this from the brokers he recommends people shouldn’t pay fees to

  • Howard 1st June 2012 at 10:06 am

    So he was in it for the money all along! Nothing wrong with making money but what is despicable however, is painting the picture of being the “peoples’ champion”. Purchasing the site may not be a wise move as surely it’s now lost all credibility?

  • Mr noluck 1st June 2012 at 10:01 am

    Is this a late April fools?

    Martin Lewis – £87 Million?

  • Mr noluck 1st June 2012 at 10:01 am

    Is this a late April fools?

    Martin Lewis – £87 Million?