XLMedia PLC Acquisition of a US Financial Services Review Website. The acquisition will be immediately earnings enhancing from completion.
The consumer loans market in the US is growing steadily and according to the US Federal Reserve, total outstanding consumer credit grew 30% from 2012 to 2016, reaching a total of $3.8 trillion in May 2017, representing a CAGR of 6.6%.
Ory Weihs, Chief Executive Officer of XLMedia, commented:
“We are delighted to have extended our North American reach with the acquisition of MU30, which complements our existing publishing assets in the financial services sector.
“As a leading personal finance review site, MU30 is a known publisher in the US, and with its existing footprint and brand recognition, it represents an excellent opportunity for XLMedia to increase its North American presence and expand within the financial services market.”