7 March 2011 Last updated at 17:45 ET

Google buys UK financial products price comparison site

Google already runs a service called Comparison Ads in the US

Search engine operator Google has bought UK price comparison website beatthatquote.com for £37.7m ($61m).

The purchase will give Google access to software that allows consumers to compare the price of products in areas including personal finance, insurance and legal services.

Google already runs a service called Comparison Ads in the US.

Comparison Ads highlights different prices in the credit card and mortgage markets.

"With their expertise and our technology, we will be able to provide new and innovative ways for consumers to find the right financial products and save money," Google said in a statement.

Analysts suggest Google is seeking to expand its online presence into the so-called 'vertical search' market - sites which focus on a specific sector or service, such as financial services or travel.