Online lead generator QuinStreet is paying $49.7 million to buy CarInsurance.com. This is QuinStreet’s latest high-profile acquisition; in late July, it bought Insurance.com and a year ago it paid what was reportedly the highest price ever for a domain when it spent $16 million to purchase Insure.com and its related assets. QuinStreet (NSDQ: QNST) says its buying spree in the online insurance space is now over, saying in an announcement that the CarInsurance.com deal “completes our near-term program to identify and acquire the best of the largest independent online organic media properties in the insurance vertical.” The company says “our efforts now turn primarily to building these properties.”
In its current incarnation, CarInsurance.com features a simple tool to compare auto insurance rates, along with a series of articles on the process. QuinStreet does not say how that will change but says the acquisition will provide it with “additional, complementary capacity …. to continue to improve insurance research and shopping for consumers, and digital marketing effectiveness for insurance carriers and agencies, on the Internet.” QuinStreet raised $140 million in an IPO in February and said it might use some of the proceeds for acquisitions.