iSelect takes stake in Malaysia’s iMoney

Company News

iSelect Limited (ASX:ISU) will acquire a 20.1 per cent stake in Intelligent Money Sdn. Bhd, a company which runs the iMoney website. 
 
The online comparison service says the deal is worth around $4.5 million and that iMoney attracts over 1.5 million unique visitors every month.
 
Executive Chairmen Damian Waller says the Malaysia based iMoney is an emerging business at a similar phase to where iSelect was ten years ago.
 
Mr Waller says the investment offers exposure to high growth consumer markets in South East Asia and an early-stage stake in a market leading business.
 
iSelect reported a net profit of $6.3 million in the 2014 financial year.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?