GoCompare acquires MyVoucherCodes in £36.5m deal

GoCompare has acquired discount site MyVoucherCodes for £36.5m.

The comparison site shelled out for the eight million e-mail subscribers and 45 million visitors that MyVoucherCodes attracts to the site each year and delivered £350m in revenue for the 3,000 retail brands it partners with, including Asos, Sky and Expedia.

The site itself is projected to generate revenues of £11.8m for the 12 month period ending 31 December 2017.

In the announcement today (19 December), GoCompare said the business would be "highly complementary" to its financial and utilities comparison services.

“GoCompare believes the acquisition will increase the opportunities for frequency of engagement with savvy savers who use both comparison and voucher websites, introduce offers to incentivise conversion on both GoCompare and MyVoucherCodes, and provide a new channel for existing GoCompare partners,” the company said.

“Both companies are focused on customer acquisition through SEO (search engine optimisation). With GoCompare's expertise in this area, GoCompare believes the acquisition creates further opportunities to grow both brands cost-effectively and sustainably.”

It eventually expects the enlarged group will be bring in 100m web visits in each year.