LendingTree announced Tuesday it has completed its acquisition of Value Holding Inc., the parent company of personal finance website ValuePenguin.
LendingTree announced in December 2018 it was purchasing the personal finance website. The company paid $105 million for Value Holding Inc., according to its press release. LendingTree stated it borrowed $90 million under its existing credit agreement and used its cash on hand to complete the transaction.
In October 2018, the company acquired QuoteWizard.com, an insurance comparison marketplace, bringing its proprietary platform and network of nearly 10,000 agents to LendingTree’s portfolio.
When the deal was announced last year, LendingTree Founder and CEO Doug Lebda said that the company is thrilled to add ValuePenguin's team and expertise to its portfolio, and believes that once paired with QuoteWizard's technology, it could provide tremendous value to customers.
"Our recent QuoteWizard acquisition was our first step toward leadership in insurance customer acquisition. Adding ValuePenguin's high-quality content and SEO capability to QuoteWizard's proprietary technology and carrier network will set us apart and enable us to provide immense value to carriers and agents,” Lebda added.
