Brightside buys aggregator technology firm Quote Exchange
Brightside Group has agreed to buy Quote Exchange for £3.7m in cash and just under 1.4m ordinary shares in Brightside.
In a statement to the stock-exchange the Bristol-based broker explained that Quote Exchange designs and builds specialist distribution technology used by customers to provide verified price comparison solutions across a wide range of products.
It added that its current clients generated approximately 5.9 million price comparison quotes per month using the technology.
In the year ended 28 February 2010 Quote Exchange generated a turnover of £1.2m and a gross profit of £800,000.
The broker stated
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