The UK’s competition watchdog has given Moneysupermarket.com Group the green light to complete its £40 million acquisition of a home communications and mobile phone comparison business.
The listed company announced in March 2018 that it planned to take over London-based Decision Technologies, which CEO Mark Lewis hailed as “one of the UK’s leading platforms for helping consumers compare and choose home communications, broadband and mobile phone deals”.
The 40-strong company is led by founder and CEO Michael Phillips, who along with the rest of the management team will join Moneysupermarket and continue to lead the business from its existing offices in Holborn.
The Competition and Markets Authority (CMA) has this morning announced it will not refer the deal to a phase 2 investigation.
Moneysupermarket’s company secretary Darren Drabble said the acquisition is expected to complete in the next two weeks.
“Following the acquisition we look forward to helping more people save more money from their home bills, by making it easier for people to find the best deals in the market across many categories, especially the growing home communications market,” he said in a London Stock Exchange statement.
Decision Tech provides home communications comparison both as a B2B service and through its own consumer comparison brands such as broadbandchoices.co.uk.
The company is backed by the Business Growth Fund (BGF).