The UK's two biggest cashback sites are set to be owned by the same group in a proposed deal which has been referred to the competition watchdog.
Topcashback and Quidco have long been the two top-paying cashback sites in our Top Cashback Sites guide, and have dominated cashback in the UK for years.
Top Online Partners Group, which owns Topcashback, and Maple Syrup Group, which owns Quidco, have agreed to form a new single group, CB Group Holdings. All of the brands owned by the two groups worldwide – including Topcashback in the US, India and China as well as the UK – would be part of the deal.
The companies say Topcashback and Quidco will continue to operate as independent brands if the deal goes ahead – but the plans have been voluntarily submitted to the Competition and Markets Authority (CMA) for review.
A Topcashback spokesperson told MoneySavingExpert.com the CMA's initial review is likely to take up to 40 working days, but it could take longer to rule on the plans if further investigation is needed.
The CMA told us it doesn't comment on this type of deal until it actually launches an investigation.
the CMA gives the deal the green light and it actually goes ahead, the companies insist there will be no immediate impact on Topcashback and Quidco users, with both brands continuing to operate as separate businesses. But it remains to be seen what the longer-term impact could be on what the sites offer – we'll be following the story closely.
For a full rundown of how both sites work currently – and other options out there – see our Top Cashback Sites guide.
What do Topcashback and Quidco say?
Olly Ragg, co-founder and director at Top Online Partners Group, said: "Creating a bigger money-saving group with Maple Syrup Group is the next logical step in reaching even more people around the world to help them save as much money as possible.
"We look forward to hearing back from the CMA, and all being well, continuing our work to revolutionise the global money-saving industry."
Maple Syrup Group founder Paul Nikkel added: "When my wife Jen and I founded Quidco, it revolutionised the money-saving industry and provided users with innovation and member-first product decisions.
"Over the years we have continued to develop a very wide range of money-saving offers for users along with Top Online Partners Group, so joining forces to create even more money-saving opportunities for our members while bringing our values and concepts to a global audience is an exciting step forward."
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