Credit information group snapped up in £1 billion deal

TransUnion

TransUnion has announced an agreement to purchase Callcredit Information Group for £1 billion.

Founded in 2000, Callcredit, which has its UK headquarters in Leeds, is an information solutions company that, like TransUnion, provides data, analytics and technology solutions to help businesses and consumers make informed decisions.

TransUnion’s president and chief executive officer, Jim Peck, 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.”

International expansion is a key growth strategy for TransUnion who are already doing business in 33 countries. The company applies its global operating model to all acquisitions, optimising 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.

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 UK 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 UK. The growth of financial technology (FinTech) and alternative lenders is driving demand for credit reporting services in markets worldwide, including the UK 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.”

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