Market analysts opinionated that the acquisition is based on Google's strategy to expand its online presence into the 'vertical search' market. Currently, Google has another comparison website called Comparison Ads in United States.
The BeatThatQuote services helped the users to find, compare and introduce the cheapest financial services and products from the best finance companies and more. With BeatThatQuote.com users can search the UK market, compare and save on finance products at low prices.
"BeatThatQuote.com today was sold to Google for GBP37.7 million. We think this deal is a tremendous opportunity for our company to develop new and innovative options for personal finance in the UK," BeatThatQuote said in its website.
"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 think we can offer more transparency and better pricing information than existing online offerings," it added.
"With their expertise and our technology, we will be able to provide new and innovative ways for consumers to find the right financial products and save money," Google said in a statement.