Google buys British price comparison site

Google bought British price comparison site BeatThatQuote.com for £37.7 million ($61 million) on Monday.

"We think this deal is a tremendous opportunity for our company to develop new and innovative options for personal finance in the UK," BeatThatQuote managing director John Paleomylites said in a statement on the website.

"We look forward to working with (Google) engineers to create new tools making it easier for consumers to choose the right financial products," he added.

"We are confident that by combining BeatThatQuote.com's expertise in UK financial products with Google's technology, we'll accelerate innovation in this field, benefiting consumers and the companies offering these products."

BeatThatQuote offers price comparisons on a wide range of products, from insurance to legal services and from utilities to retail items.

(c) 2011 AFP