No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Mortgage Advice Bureau announced on Tuesday that it has acquired HomeOwners Alliance for 1.4m, as it looked to expand its reach earlier in the homebuying process and deepen its presence across the property transaction lifecycle.
The AIM-traded firm said the total consideration included 1.4m plus surplus distributable reserves, with half payable on completion and the rest deferred over two years.
HomeOwners Alliance, previously owned by its founders and Smoove, operates a consumer platform attracting millions of annual web visits by offering guidance, tools and services to homeowners and prospective buyers.
MAB said the acquisition aligned with its strategy to engage customers earlier in their homebuying journey and extend its services beyond mortgage advice.
"HomeOwners Alliance has built a strong reputation as a trusted source of information for homeowners and prospective buyers," said Ben Thompson, director of home moving strategy at Mortgage Advice Bureau.
"This acquisition strengthens our ability to engage with customers earlier in their homebuying journey and supports our strategy to broaden MAB's role across the wider home-moving process.
"We're pleased to welcome HomeOwners Alliance to the Group and look forward to supporting its continued growth."
The group said it expected the integration of HOA's digital platform to increase lead volumes, broaden its service offering, including protection products, and strengthen links between mortgage advice and other home-moving services.
It said the deal also positioned MAB ahead of potential regulatory or structural changes stemming from the UK government's ongoing consultation into the home-selling and buying process, while enabling closer alignment between HOA and the group's network of preferred suppliers.
Paula Higgins, founder and chief executive of HomeOwners Alliance, said the business would continue to operate independently under MAB ownership.
"HomeOwners Alliance was created to help people navigate one of the biggest financial decisions of their lives," Higgins said.
"By joining Mortgage Advice Bureau, we will benefit from additional resources and reach, allowing us to expand the guidance, tools, and research we provide.
"We will continue to operate independently, retaining a strong voice for consumers, and are excited about our growth plans under MAB's ownership."
At 1505 BST, shares in Mortgage Advice Bureau Holdings were down 0.82% at 570.3p.
Reporting by Josh White for Sharecast.com.
See latest RNS on Investegate