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XL Media surges as it gets greedy in Canada

Greedyrates.ca is one of Canada's leading credit card comparison web sites
Credit and debit cards
"We believe this acquisition will be the catalyst to our operations in the sector," said CEO Ory Weihs

XLMedia (LON:XLM), a leading provider of digital performance marketing, has acquired of Greedyrates.ca, one of Canada's leading credit card comparison web sites.

Shares in XLMedia surged 5.3% to 97.94p in early deals on news of the acquisition, which will cost the British firm US$9.3mln in cash.

The acquisition is expected to complete during the first quarter of 2017 and is expected to be earnings enhancing following completion.

XLMedia said the acquisition would significantly enhance its presence in North America.

"We are delighted to announce the acquisition of Greedyrates, our first significant publishing asset in the financial services sector. As a leading credit card comparison site Greedyrates is a household name in Canada and, with its existing footprint and brand recognition, it represents an excellent opportunity for XLMedia to increase its North American presence and establish a foothold in the financial services market,” said Ory Weihs, chief executive officer of XLMedia.

XLMedia added it continues to trade in line with expectations.

View full XLM profile View Profile

XLMedia Timeline

Newswire
July 26 2016
Article
January 19 2016

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