The UK’s Associated Newspapers, owned by media group the Daily Mail and General Trust, has paid $41.7 million for consumer finance company Simply Energy and its SimplySwitch website—further expanding Associated’s network of consumer-oriented web properties. The SimplySwitch deal includes $31.3 million upfront with the remainder as a three-year earn-out for management. Revenues are expected to be around $12.3 million for the year ending Sept. 30. The main rival USwitch, which also allows customers to compare rates for household bills, was bought by Scripps in March for $366 million with a predicted 2006 revenue of up to $49.4 million. SimplySwitch becomes part of the Associated Northcliffe Digital division but will operate independently. Associated’s previous web acquisitions include Carsource.co.uk, Primelocation and Jobsite.co.uk but SimplySwitch is designed to complement Associated’s personal finance offerings, including thisismoney.co.uk. Release
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