Agreement to acquire KreditIn

RNS Number : 5611H

Experian plc

06 November 2008

 



Experian plc

Agreement to acquire KreditInform

Experian, the global information services company, announces that, subject to certain closing conditions, it has agreed to acquire KreditInform, a leading provider of commercial credit information and analytics in South Africa, in conjunction with its Black Economic Empowerment partner, Mowana Investments. KreditInform is a strong strategic fit with Experian's existing consumer credit activities in South Africa and is in line with Experian's strategy to own market-leading credit bureaux in high growth emerging markets globally.

Founded in 1982, KreditInform operates one of the most comprehensive and up-to-date commercial information databases in South Africa. KreditInform maintains proprietary and public data on all registered companies in South Africa, including debtor records, payment histories, financial information, directorships, shareholding relationships and other commercial credit information, with records extending back over 25 years. KreditInform provides commercial information and solutions to over 2,000 customers in South Africa, including Nedbank, Standard Bank of South Africa, ABSA and FNB, helping companies to extend credit, monitor credit risk and assisting with collections strategies. 

Revenue for KreditInform in the year to 31 January 2008 was ZAR146m and gross assets as at 31 January 2008 were ZAR79m. The company was purchased from its founders and its Black Economic Empowerment partner, Shanduka Group, and will form part of Experian's Credit Services activities. 

Enquiries

Experian

Nadia Ridout-Jamieson    Director of Investor Relations                  44 20 3042 4215

Alex Brog                        Head of Media Relations

Finsbury

Rollo Head                                                                                    44 20 7251 3801

Experian announcements are available on www.experianplc.com

 

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