XLM Xlmedia Plc

TIDMXLM

RNS Number : 8486N

XLMedia PLC

14 August 2017

 
For immediate release  14 August 2017 
 

XLMedia PLC

("XLMedia" or the "Group" or the "Company")

Acquisition of a US financial services review website

XLM strengthens financial services footprint and broadens North American reach

XLMedia (AIM: XLM), a leading provider of digital performance marketing, is pleased to announce the acquisition of www.Moneyunder30.com ("MU30"), a US focused price comparison website for financial services, for a total consideration of US$7 million. The acquisition will be immediately earnings enhancing from completion.

MU30 is a personal finance site providing information for young adults wanting to make informed financial decisions, particularly around credit cards, loans, mortgages and savings accounts. The acquisition of MU30 is firmly in line with XLMedia's strategy to expand geographically in North America and to expand its footprint in the financial services sector. MU30 complements XLMedia's recent acquisition of www.Greedyrates.ca, a Canadian focused credit card comparison website.

The consumer loans market in the US is growing steadily and according to the US Federal Reserve, total outstanding consumer credit grew 30% from 2012 to 2016, reaching a total of $3.8 trillion in May 2017, representing a CAGR of 6.6%.

Ory Weihs, Chief Executive Officer of XLMedia, commented:

"We are delighted to have extended our North American reach with the acquisition of MU30, which complements our existing publishing assets in the financial services sector.

"As a leading personal finance review site, MU30 is a known publisher in the US, and with its existing footprint and brand recognition, it represents an excellent opportunity for XLMedia to increase its North American presence and expand within the financial services market."

For further information, please contact:

 
   XLMedia plc Ory Weihs www.xlmedia.com       Tel: 020 8817 5283 
   Vigo Communications Jeremy Garcia           Tel: 020 7830 9701 
    / Fiona Henson / Natalie Jones 
    www.vigocomms.com 
   Cenkos Securities plc (Nomad                Tel: 020 7397 8900 
    and Joint Broker) Ivonne Cantu 
    / Camilla Hume www.cenkos.com 
   Berenberg (Joint Broker) Chris              Tel: 020 3207 7800 
    Bowman / Mark Whitmore www.berenberg.com 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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