In the latest big move by Charlotte-based LendingTree, the financial technology company said it plans to acquire the parent company of ValuePenguin, a personal finance website.
LendingTree, which lets consumers comparison-shop online for a range of financial products, such as mortgages, personal loans and credit cards, will buy will buy Value Holding Inc. for $105 million, according to a news release from the companies. The deal is expected to close in the first quarter of next year.
Earlier this month, LendingTree announced plans to nearly double its presence in Charlotte, where it was founded in 1996. In exchange for state incentives, the company will add 436 jobs that pay more than $100,000 on average.
The company also plans to move its headquarters to a new location in Charlotte. The company has not yet said where that location will be.
In late October, LendingTree completed its acquisition of QuoteWizard, an insurance comparison company. That deal was worth up to $370.2 million, including $300 million in cash at closing, according to LendingTree at the time.
Adding ValuePenguin and QuoteWizard to LendingTree “will set us apart and enable us to provide immense value to carriers and agents,” LendingTree CEO and founder Doug Lebda said in a news release. “Both businesses will benefit from LendingTree’s strong brand and extensive marketing capabilities.”
LendingTree is growing at a fast pace.
The company has posted multiple quarters of record results in recent years as it expanded into new products and services, The Observer has reported.
About two years ago, LendingTree announced plans to add 314 workers in Charlotte for receiving a $4.9 million incentives package from the state.