Silvertree, Kevin Tucker Acquires Price Comparison Platform, PriceCheck From Naspers

Mergers, Acquisitions and Financial Results

Silvertree Internet Holdings, an operating and holding company for early and mid-stage tech businesses and Kevin Tucker have announced the acquisition of leading online price comparison platform, PriceCheck from Naspers, a South Africa-based global media and Internet giant for an undisclosed sum.

The deal, made in partnership with Silvertree’s subsidiary, ClicknCompare, sees Kevin Tucker reacquire PriceCheck, a company he started in 2006 and sold to Naspers in 2010.

Now in its ninth year, PriceCheck has grown to become Africa’s largest price comparison service housing over five million products listed from retailers including Konga Zando and Jumia, and expanded into Nigeria, Africa’s continent’s largest economy, in 2013.

An elated Kevin said, “It is an exciting prospect to retake the reins of a company I started almost a decade ago. Naspers, through investment and strategic partnerships, has built PriceCheck to be a leading price and product comparison platform,”

He added, “My challenge now is to consolidate the considerable headway they have made over the last five years and build an infrastructure to service the many millions more Africans that will be venturing online for consumer goods, predominantly via mobile, in the coming years.”

PriceCheck will join other growing, and established brands in the Silvertree stable, including WineCo, Sprout, Faithful to Nature, and Cybercellar.

The deal will see a change in management as Andre de Wet will step aside from his role as CEO after five years at the helm of affairs at PriceCheck.

Silvertree and Kevin Tucker will further build PriceCheck’s core competencies: to provide a great product, transparent pricing for customers and to drive highly-qualified, valuable traffic to merchants.

Silvertree, which is headquartered in Cape Town, South Africa, incubates and invests into African ventures, and focuses on execution of simple, proven business models.
Source: TechLoy 5 November 2015