Fairpoint Group is to buy Moneyextra.com Ltd as it looks to expand its business beyond debt solutions. The business expands the ultimate cost to be £8 million.
The Acquisition is expected to increase non-IVA revenues to approximately one third of group revenues.
Moneyextra.com gives consumers the opportunity to find lower prices in markets for insurances, utilities, media, mobile phones, lending products, savings and investments.
Chris Moat, CEO of Fairpoint, said: “The income and expenditure review we undertake with customers gives us a clear insight into where customers can reduce their bills and the addition of Moneyextra to the group provides us with a clear way of delivering savings to customers on a range of product and services.””
