UK-based online marketplace OnBuy has announced its acquisition of the iconic British retailer Comet from Misco Technologies, with a relaunch scheduled for the fourth quarter of 2025. The move forms a key part of OnBuy’s long-term strategy to expand its influence in the UK consumer electronics market, estimated to be worth £25 billion.
The acquisition will see Comet fully integrated into OnBuy’s marketplace infrastructure. Once a staple of the UK high street, Comet will re-emerge under OnBuy’s digital-first model. A £10 million investment will support the reintroduction, aiming to position the brand as a central hub for electronics shopping within a competitive market dominated by players such as Amazon and Currys.
Cas Paton, CEO and Founder of OnBuy, said: “Comet is a brand long associated with offering the very best deals in home appliances and consumer electronics. Its heritage is one that we want to protect and enhance using our innovative technology and business model.
“OnBuy’s marketplace already connects millions of customers with top brands and retailers, and we’re uniquely positioned to rebuild Comet into a powerhouse for consumer electronics, just as it once was – but with a modern, digital-first approach that will deliver incredible value and a seamless shopping experience to customers. We’re not just reviving a name; we’re reimagining what trusted electronics retail looks like in a digital-first economy.”
Adam Muir, Managing Director at Misco Technologies, said: “Following 6 years of exponential growth in our core business, we’ve taken the decision to sell the Comet brand. We’re delighted to be leaving this household name in the hands of one of Britain’s leading technology businesses. OnBuy has highly ambitious plans to redefine Comet’s reputation as an e-commerce juggernaut, and we look forward to seeing this legacy brand taken to new heights.”
The transaction follows a period of rapid expansion for OnBuy, which reported 50% year-on-year sales growth, supported by increasing consumer interest in homegrown tech businesses. In 2024, the company facilitated more than £150 million in UK sales and recorded gross profits exceeding £20 million.
