BeatThatQuote.com eaten by Google for £37.7m

British web site BeatThatQuote.com has been bought Google a for a tasty £37.7 million ($61 million).

Beatthatquote's managing director John Paleomylites announced the deal on the company's website. "BeatThatQuote.com today was sold to Google for GBP 37.7 million. We think this deal is a tremendous opportunity for our company to develop new and innovative options for personal finance in the UK," he wrote yesterday.

The website was founded in 2006, and offers price comparison services to help users to choose between insurance quotes, banking services, utilities and others.

It competes with the likes of moneysupermarket.com and moneysavingexpert.com, which probably have a higher public profile because they spend a fortune on TV advertising.

BeatThatQuote takes a commission from the companies it features on its pages when a user signs on the dotted line - a dubious arrangement if ever there was one.

Google for its part is buying up companies left, right and centre in its mission to p0wn the web.

Paleomylites said: "We are confident that by combining BeatThatQuote.com's expertise in UK financial products with Google's technology, we'll accelerate innovation in this field, benefiting consumers and the companies offering these products. We plan to keep working with our current partners and look forward to working with new ones, too."