TransUnion Announces Agreement to Acquire Callcredit
April 20 2018 - 6:48AM
TransUnion (NYSE:TRU) announced today its agreement to purchase
Callcredit Information Group, Ltd., the second largest and fastest
growing consumer credit bureau in the U.K., headquartered in Leeds.
Founded in 2000, Callcredit is a U.K.-based information
solutions company that, like TransUnion, provides data, analytics
and technology solutions to help businesses and consumers make
informed decisions.
“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,” said
Jim Peck, TransUnion’s president and chief executive officer.
“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.”
International expansion is a key growth strategy for TransUnion,
already doing business in 33 countries. The company applies its
global operating model to all acquisitions, optimizing business and
operational processes. TransUnion’s innovative 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.
“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,” said
David Neenan, President of TransUnion’s International business.
“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.”
With a strong record of growth and innovation in both core
credit and emerging solutions, Callcredit has achieved strong
market success in the U.K. The growth of financial technology
(FinTech) 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.
“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,” said
Mike Gordon, Callcredit chief executive officer. “We are excited
about the future and unique opportunity to elevate our competitive
advantage with TransUnion through our combined innovation and
expertise.”
TransUnion agreed to acquire Callcredit for £1 billion, which is
approximately $1.4 billion at today’s exchange rate. The
acquisition is anticipated to close late in the second quarter or
early in the third quarter pending regulatory approval.
About TransUnion (NYSE:TRU) Information is a
powerful thing. At TransUnion, we realize that. We are dedicated to
finding innovative ways information can be used to help individuals
make better and smarter decisions. We help uncover unique stories,
trends and insights behind each data point, using historical
information as well as alternative data sources. This allows a
variety of markets and businesses to better manage risk and
consumers to better manage their credit, personal information and
identity. Today, TransUnion has a global presence in more than 30
countries and a leading presence in several international markets
across North America, Africa, Latin America and Asia. Through the
power of information, TransUnion is working to build stronger
economies and families and safer communities worldwide.
We call this Information for Good.
http://www.transunion.com/business
About CallcreditCallcredit specializes in
credit referencing, fraud and analytics, and database marketing
solutions, and is an expert in managing consumer data for
businesses across every sector. The Group is structured into four
divisions, Credit Solutions, Fraud & Analytics, Marketing
Solutions, and Consumer Markets. Callcredit focuses on developing
innovative products and services across these divisions to help
businesses make smarter and informed decisions throughout the
customer lifecycle. Founded in 2000, the Group includes
the U.K.'s second largest credit reference agency and employs
approximately 1,200 professionals, with offices in the U.K.,
Lithuania and around the world. In 2014, Callcredit was
acquired by GTCR, a leading private equity firm based in
Chicago.
Contact |
Dave Blumberg |
|
TransUnion |
E-mail |
david.blumberg@transunion.com |
Telephone |
312-972-6646 |
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