Tech tycoon Barry Diller is offloading the British price comparison website PriceRunner. Diller's company IAC has been shopping around for buyers and is expected to announce a roughly $100 million sale of the site as soon as this month, according to reports by Sky News.
PriceRunner was one of the first price comparison websites to debut on the Internet in 1999 and describes itself as "the UK's no. 1 shopping comparison site." It lists retailers free of charge, including British mainstays like Asda, Waitrose, and John Lewis. About one million Brits use the site each month, according to the company.
IAC (iaci) acquired PriceRunner as part of its ValueClick deal just over two years ago. IAC paid $80 million for a group of ValueClick companies, including PriceRunner, price comparison website Coupon Mountain, and finance education site Investopedia. The properties add to IAC's stable of Internet properties, which includes the Daily Beast and About.com. IAC spun off its online-dating division, Match Group (mtch), into a separate, publicly-traded company late last year.
Moelis, a U.S.-based investment bank, is advising IAC on the sale. A buyer has not yet been named, according to Sky News.