Belgium-headquartered media group Mediahuis has acquired the Irish online price comparison platform, Switcher.ie, for an undisclosed sum.
The company, which publishes the Irish Independent and Sunday Independent among other newspapers, said the site had “an impressive track record of growth and profitability”.
Switcher.ie, which is regulated by the Central Bank of Ireland and has accreditation from the Commission for Regulation of Utilities, compares prices for broadband plans, energy providers, mobile packages, mortgages and other financial products. Mediahuis said it had helped almost 60,000 Irish households switch and save money over the past year.
“I am very proud of what we have achieved over the last 10 years at Switcher.ie,” said Carl Gaywood, director and owner of the company.
“We have not only helped thousands of Irish consumers make informed decisions about their finances but also developed a strong brand and loyal following. Mediahuis share the same vision, culture, ethos and values that have made Switcher the success it has been so far. Together we will share the mission to inform and empower consumers and we look forward to being part of the journey with Mediahuis.”
Accounts for Switcher Ltd show it had turnover of more than €2.9 million in 2021 and made a net profit after tax of €715,314.
Mediahuis Ireland’s assets also include Independent.ie, the Sunday World, the Belfast Telegraph and 11 regional newspaper titles. It is part of a European media group that operates across Belgium, the Netherlands, Luxembourg and the German region of North Rhine-Westphalia as well as Ireland, and employs about 4,600 people.
The purchase of Switcher.ie follows Mediahuis’s €30 million acquisition of Carzone last month.
“This acquisition supports our determination to sustainably grow in online comparison,” said Xavier van Leeuwe, chief executive of Mediahuis Marketplaces. “We have full confidence that the combination of Carl’s highly skilled team and our media expertise will pave the way for Switcher’s success as the clear number one in the Irish comparison market.”
