Credit, Collections & Insolvency News
American consumer credit reporting agency, TransUnion has announced it has reached an agreed to purchase Callcredit Information Group for £1 billion, ($1.4 billion).
TransUnion, provides data, analytics and technology solutions to help businesses and consumers make informed decisions in America. International expansion is a key growth strategy for TransUnion which has offices in 33 countries. The company applies its global operating model to all acquisitions, optimising business and operational processes. TransUnion’s global solutions include trended data leader CreditVision® and consumer empowerment application CreditView®, as well as an array of data, fraud, decisioning, analytics and consumer identity solutions.
Mike Gordon, Callcredit Chief Executive Officer said “Investment by a global company with an established track record, shared values and leadership who recognized our market potential is absolutely the right fit for us and the market. We are excited about the future and unique opportunity to elevate our competitive advantage with TransUnion through our combined innovation and expertise.”
Jim Peck, TransUnion’s President and Chief Executive Officer said “TransUnion and Callcredit have strong synergies across our business models and solutions, and we share a commitment to using information to benefit consumers and global economies alike. Callcredit is an outstanding acquisition for TransUnion, and together, we’ll be a powerful force to deliver value to shareholders, customers and consumers across all the markets we serve.”
David Neenan, President of TransUnion’s International business said “We continue to drive growth by identifying and investing in attractive international markets. As a leader in the world’s second-largest credit market, Callcredit certainly fits the model. And, with the growing trend of multi-bureau usage in the U.K., we believe this is the right time to introduce TransUnion into the market.”
In a statement, TransUnion said “With a strong record of growth and innovation in both core credit and emerging solutions, Callcredit has achieved strong market success. The growth of financial technology and alternative lenders is driving demand for credit reporting services in markets worldwide, including the U.K., and Callcredit and TransUnion are both positioned well to competitively deliver on this demand.”
The acquisition is anticipated to close late in the second quarter or early in the third quarter pending regulatory approval.
