XLMedia snaps up another comparison site in bid for US expansion

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XLMedia has added a raft of websites to its portfolio since diversifying (Source: Getty)

Digital performance marketing company XLMedia continued its buying spree today with a swoop on a US comparison website.

The Aim-listed firm has added young adult personal finance site Moneyunder30.com to its portfolio for $7m (£5.4m).

XLMedia is targeting further US expansion, following its acquisition of Canadian credit card comparison site Greedyrates. 

The company also plans to expand its footprint in the financial services sector.

Read more: Online traffic driver XLMedia reports strong first half

Chief executive Ory Weihs said: “As a leading personal finance review site, MoneyUnder30 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.”

It follows the acquisition just last week of the remaining minority stake in online advertising solutions firm Marmar Media.

Formerly focused on gambling websites, XLMedia has reported growth since diversifying into other areas of user acquisition, marketing and online publishing.

The buyout of MoneyUnder30 is to be announced in an official release to the stock market this morning. The group said that the acquisition will immediately enhance its earnings.

Analysts expect a 26.3 per cent increase in XLMedia's earnings over the next three years.