Google buys UK based BeatThatQuote.com

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Google is on shopping tour again. The global search giant acquires BeatThatQuote.com, a comparison site for financial products, for £37.7m. John Paleomylites, the Managing Director of the young company today stated directly on the homepage: “We think this deal is a tremendous opportunity for our company to develop new and innovative options for personal finance in the UK. Our team is excited about becoming a part of Google. We look forward to working with their engineers to create new tools making it easier for consumers to choose the right financial products. We are confident that by combining BeatThatQuote.com’s expertise in UK financial products with Google’s technology, we’ll accelerate innovation in this field, benefiting consumers and the companies offering these products.”

BeatThatQuote was founded in 2005 and is based in London. For Google this is yet another step into the e-commerce space. There is no question: This is a great deal for BTQ and Google. But to be honest I have mixed feelings, when the global leader in search acquires more and more e-commerce-companies wich are competing with other players that are trying to monetize their SEO- and Adwords-traffic. I can’t help it… 😉

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