Newport-based Group plc is set to buy The Global Voucher Group Limited, which trades as MyVoucherCodes, and its subsidiaries in a deal worth £36.5m.

The comparison website firm, based at Imperial Park in Newport, is buying MyVoucherCodes from Monitise Limited for £36.5m in cash, on a cash-free, debt-free basis.

The acquisition will be financed through a combination of existing cash resources and an extension to GoCompare’s existing credit facilities. is one of the UK’s largest online voucher code sites with eight million e-mail subscribers and a website which receives around 45 million annual visits.

As such, MyVoucherCodes benefits from industry-leading commercial relationships, working with more than 3,000 retail brands and generated £350m of retailer revenue for the year ended June 30, 2017.

The acquisition furthers the GoCompare mission to ‘help people everywhere save time and money’, as both businesses are focused on enabling people to make better-informed decisions about their purchases.

Both companies are focused on customer acquisition through SEO (search engine optimisation). With GoCompare’s expertise in this area, GoCompare believes the acquisition creates further opportunities to grow both brands cost-effectively and sustainably, and that the enlarged group will be able to achieve almost 100 million website visits per year.

Matthew Crummack, CEO of GoCompare, said: “We are delighted with this acquisition which will complement the services offered by GoCompare. We are making strong progress towards our ambition to become the ‘go-to’ place for savvy savers to find great deals, and for service providers to reach and acquire customers. I am looking forward to MyVoucherCodes playing a valuable role within the Group and providing us with the potential to help even more people, more often.”

Faisal Galaria, chief strategy and investment officer at GoCompare, said: “MyVoucherCodes has achieved significant scale in the UK over the last 10 years and the acquisition brings relationships with some of the largest online retailers in the UK across numerous industries, including ASOS, Sky, Expedia and many more. It also provides a platform that we can leverage for further growth.”