Fairpoint buys Moneyextra.com for £1
Fairpoint Group has acquired 100% of the share capital of Moneyextra.com in a bid to extend the group from a debt solutions business into a broader-based financial solutions company.
The move follows the departure of former Moneyextra MD, Richard Mason, previously Moneysupermarket.com's director, who left quietly in September 2009.
In March 2010, as part of its preliminary results announcement, Fairpoint outlined a strategy to create a broad based financial solutions business serving the needs of the financially stressed and specifically to generate 20% of revenues and gross profits in FY 2010 from non-individual voluntary arrangement sources (2009: 12%).
Fairpoint said that
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