Getprice’s management team have acquired the business from News Limited for an undisclosed amount.
Getprice chief executive Chris Hitchen and his senior management team, including chief operating officer and company co-founder Jared Oken, will continue to lead the business as an independent operation.
“We are delighted that News has accepted our offer. Being independent and having control of our own destiny is an exciting prospect – we have big plans for the next chapters of Getprice’s history,” Hitchen said.
“We will always be extremely grateful to News for its investment, support and guidance over the years. It’s been a lot of fun, but it's time for us to spread our wings as an independent business again.”
Founded in 2005, Getprice helps consumers make informed purchasing decisions by enabling them to research products and compare offers from hundreds of retailers nationwide.
The site currently lists more than 2.5 million products from over 1300 retailers including Apple, Dell, Dick Smith Electronics, Bing Lee, Harvey Norman, General Pants Co, The Good Guys, Ted's Cameras, ABC Store, Big W, Rebel Sport, Officeworks, Surf Dive 'n' Ski, Supercheap Auto, Flight Centre, Jeans West, Dymocks, Dan Murphys, Surf Stitch, Appliances Online and The Iconic.
News Limited acquired Getprice in a series of transactions between 2007 and 2010.
As part of the buyout, Hitchen will step down from his role as News Limited’s executive director – local and commerce.