ZPG'S RVU agrees to acquire Penguin Portals, owner of Confused.com
London-based RVU, owners of home services switching service Uswitch and financial comparison site Money.co.uk, is broadening its comparison portfolio by agreeing to acquire Penguin Portals from Admiral Group plc.
Penguin Portals is a global network of insurance-focused comparison platforms that include Confused.com in the UK as well as Rastreator.com and LeLynx.fr, market leaders in car insurance comparison in Spain and France respectively. The network of over 600 employees also includes a start-up in Mexico and a development centre in India.
RVU, the Comparison division of ZPG, is a group of digital brands working to empower consumers by helping them compare and switch home services and financial products. RVU's agreement to acquire Penguin Portals would allow the group to broaden this consumer focused mission to the UK insurance sector as well as internationally.
Tariq Syed, CEO of RVU, said: "Penguin Portals offers an exciting opportunity for us to expand our comparison brand portfolio and geographic reach. With a shared mission to empower consumers to make more confident decisions, I'm incredibly excited to see the opportunities that we can create together. Culturally we are also very aligned - we believe in winning in the right way and keeping consumers at the heart of everything we do.
"With its strong brand heritage and focus on insurance, Confused.com perfectly complements Uswitch's expertise in the home services category. And, with equally established offerings in other countries, we have an opportunity to help even more consumers find the right deals for their needs."
Elena Betés, CEO of Penguin Portals, said: "This is an excellent opportunity for both Penguin Portals and RVU. We share the same core purpose and passion – to empower people to make better decisions, so I know I speak for all of our Penguin family when I say how excited we are for the journey ahead."
The transaction is subject to regulatory approvals and customary closing conditions.
