IDE Group bought 100% Homemoney.com.ua
In January 2010, the British holding company IDE Group acquired 100% of the innovative internet project HomeMoney.com.ua. HomeMoney is an online service designed for personal finance management, accounting, and home bookkeeping. Essentially, it is a more accessible version of the popular American project Mint.com for Russian-speaking consumers.
At this time, the parties are not disclosing the value of the transaction.
Maksym Sedov (Investment Manager, IDE Group): We've been closely monitoring this project for a long time and have concluded that acquiring Homemoney will significantly boost the development of IDE Group's financial services in Ukraine. Furthermore, Homemoney will be launched as a standalone brand in Western Europe after 2010.
HomeMoney, an online home accounting service, was one of the first in the CIS market and is currently the leader on the Ukrainian internet. Its user base has reached 20,000. HomeMoney was the first to launch an iPhone app, and integration with bank cards is currently being tested, making it the first such solution in the CIS. The main obstacle to managing your finances is the need to record all transactions in the system. Soon, if you use bank cards, the service will automatically track all your expenses.
HomeMoney founder Igor Andreychin will continue to work as project manager.
Igor Andreychin: "We've been spending little time on product development lately and have been carefully monitoring the market to determine whether we're moving in the right direction. After closing the deal, we have all the resources to take the project to a new level of service quality for our users in Ukraine, as well as expand into Western European markets. Furthermore, we'll make getting started with the service as easy as possible for those who haven't used home accounting before."
Reference.
IDE Group (Interactive Digital Entertainment) operates several internet projects operating in the UK, USA, Canada and other countries.
The company entered the Ukrainian market in October 2007, acquiring the price comparison service Price.ua. The company is also successfully developing the recruiting portal Trud.ua, the product and service comparison site Sravni.ua, and the automotive project Rul.ua in Ukraine.
IDE Group is headquartered in Edinburgh, Scotland, with offices in London, Dnipro, and Zaporizhzhia. The company's official website is www.idegroup.com.
