Nextag, a comparison shopping site for products and services, has acquired Germany's Guenstiger.de GmbH, one of the largest comparison shopping services in Europe. Financial terms of the deal were not disclosed but the company says acquisition marks the most significant strategic transaction for Nextag to date. The deal was a mixture of cash and stock.
Guenstiger provides shoppers in six countries with a comprehensive comparison shopping site that includes reviews, recommendations, and local product availability, to help users make easy and informed purchases. Guenstiger will maintain its brands and will continue to be led by its current management team.
Jeffrey Katz, CEO of NexTag, says the acquisition will quickly accelerate the company's growth internationally, and diversify its traffic sources. Nextag specializes in search technology to let users find products, prices and information whenever and wherever they need them. The company operates comparison shopping sites in the US (Nextag.com), the UK (Nextag.co.uk), France (Nextag.fr), Spain (Nextag.es), Italy (Nextag.it), Australia (Nextag.com.au), Japan (Nextag.co.jp), as well as Germany (Nextag.de) but the acquisition will give NexTag more of a foothold across Europe.
I have a feeling we'll see more acquisitions in NexTag's future. The company was looking to raise $250 million as of last December to fund acquisitions.