Expanding its international position, USA based TransUnion is set to acquire Callcredit Information Group Ltd. which is the second largest and the fastest growing consumer credit bureau in the UK. Callcredit is headquartered in Leeds, UK and was founded in 2000. Callcredit provides data, analytics and technology solutions to help businesses and consumers make informed decisions.
According to Jim Peck, TransUnion’s president and chief executive officer:
“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.”
Expanding its business to 33 countries, TransUnion places international expansion as a key growth strategy and it applies its global operating model to all its acquisitions, optimizing business and operational processes. Innovative global solutions such as CreditVision® and consumer empowerment application such as CreditView® fall under TransUnion product line including an array of data, fraud, decision making, analytics and consumer identity solutions.
David Neenan, President of TransUnion’s International business further commented:
“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.”
Callcredit has a strong record of growth and innovation in core credit and emerging solutions and both Callcredit and TransUnion are positioned competitively when the whole financial technology industry itself is seeing substantial growth.
Mike Gordon, Callcredit chief executive officer added the following:
“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.”
TransUnion is buying Callcredit for £1 billion ($1.4 billion).
Expected to close late in the second or early in the third quarter of this year, the acquisition is still pending regulatory approval.
Founded in 1968, TransUnion provides risk and information solutions and operates in three segments U.S. Information Services (USIS), International, and Consumer Interactive. Headquartered in the US, TransUnion employs around 5100 employees.
Founded in 2000, Callcredit operates as a credit reference agency that provides online credit report monitoring services (credit score and rating) on debts and identity thefts to assist lenders along with advisory options. Callcredit is based in Leeds, UK.