Bath-based media group Future has snapped up the company behind Australia’s largest shopping comparison website as it expands its e-commerce operations.
Next Commerce launched getprice.com.au in 2005. It now has more than 1,200 retailers using the site, selling 2.8m-plus products.
The firm also started pricepanda.com in Singapore in 2012. It now has sites in five countries and lists more than 5.8m products.
Future has rapidly growing e-commerce revenues in its UK and US businesses. It said the acquisition would enable it to accelerate its growth by leveraging its leading online media brands such as techradar.com, gamesradar.com and pcgamer.com.
Next Commerce posted revenues of AUS$3.3m (£1.9m) for the year to June 30.
Future chief executive Zillah Byng-Thorne said: “This acquisition further diversifies our revenue, an important element of our strategy.
“It will also strengthen our presence in e-commerce, which is increasingly becoming a key part of our business.
“Over the last two years, we have demonstrated the significant value that can be created through combining high-quality content that connects with a consumer focussed e-commerce offering.
“We see good opportunities to grow by working closely with Next Commerce, who have developed market-leading e-commerce technology and practices for retailers, publishers and consumers in the fast growing Australian and SE Asian markets.”
No financial details of the deal have been disclosed.
Earlier this year Future strengthened its tech portfolio with acquisition of Noble House Media, the multi-platform publisher behind Mobile Choice, a UK consumer mobile magazine and the prestigious Mobile Choice Awards.
Future sold more than 14m magazines last year and attracts more than 50m monthly users globally to its websites. Its best-known brands include T3, Total Film, Edge, MacFormat and Xbox: The Official Magazine.
Future’s shares inched up by 1.15% – or 0.1p – to 8.8p on news of the Next Commerce deal.
