Sykes Acquires Penny Hoarder for US$102 Million

American BPO firm Sykes Enterprises has announced that its subsidiary Clearlink had acquired Taylor Media Corporation, owner of The Penny Hoarder, for around US$102 million.

St Petersburg, Florida-based Penny Hoarder is a personal finance website, providing in-depth information on financial products and services. In other words, Hoarder publishes stories on how to make, save, and manage money in this ever-changing financial market.

It is not clear how many employees Penny Hoarder has, but reports say the company makes around US$50 million in annual revenue. 

All employees of Hoarder, including its CEO Kyle Taylor, will retain their position and even the company will stay headquartered in St Petersburg. 

Thanks to its extensive content library and expertise within personal finance, Penny Hoarder has a vast network of clients across the credit, investing, banking and insurance categories. Moreover, it is a premier customer acquisition partner for its clients. 

“We are focused on building a portfolio of digital media assets that help consumers find, buy and use products and services that improve their everyday lives,” stated Sykes’ CEO Chuck Sykes. The news comes barely a month after Sykes launched a new division to provide services such as insight analytics and digital learning. 

“The financial services industry is changing rapidly and consumers need an ally in navigating this new economy more than ever,” said Kyle Taylor. “Our partnership will give us a leg up in meeting these challenges.”