Business

Red Ventures acquires Atlanta-based firm as buying spree continues

Red Ventures CEO Ric Elias leads a tour of the RV3 building in 2015.
Red Ventures CEO Ric Elias leads a tour of the RV3 building in 2015. rlahser@charlotteobserver.com

Red Ventures, the fast-growing marketing and technology firm in Indian Land, S.C., said this week it bought a company that allows consumers to compare prices for home utilities, continuing a recent acquisition binge.

Red Ventures did not disclose the purchase price for Atlanta-based Allconnect, which allows comparisons of services such as electricity, TV and Internet.

“With our combined capabilities, we are now in a better position to help utilities accelerate their digital transformations and better meet consumer preferences in the moving process,” Red Ventures CEO Ric Elias said.

In its biggest acquisition to date, Red Ventures in July said it was buying personal finance website Bankrate for $1.4 billion. That followed a series of deals in recent years for companies ranging from Choose Energy, a Texas-based online marketplace for electricity and natural gas, to Soda, a Seattle-based tech firm that owns online brands including Reviews.com, Freshome and The Simple Dollar.

Red Ventures, founded in 2000, says it has more than 2,700 employees in the Carolinas, Seattle, Washington, London and Brazil.

Rick Rothacker: 704-358-5170, @rickrothacker

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