Experian plc - Experian agrees to acquire ClearScore
Experian agrees to acquire ClearScore
"In acquiring ClearScore, we will take another important step in our strategy to extend the services we provide to
ClearScore provides free access to credit reports and scores and introduces consumers to personal financial products and offers which are best suited to their individual circumstances. These include offers for credit cards, loans, mortgages, car loans and other services. To date, ClearScore has enrolled over 6 million members in the
The acquisition of ClearScore will combine two well-known, high growth
The purchase price is GBP£275m (
ClearScore's services are provided to consumers for free and it generates revenue through referral fees paid by lenders and other service providers on its site. ClearScore has experienced rapid growth as the type of credit products and features offered through its site have increased and as membership has grown.
· For calendar year 2018, ClearScore is on track to generate revenue of c.
· The EBIT contribution to
· EBIT progression is expected to be underpinned by significant cost synergies on integration with the
· We expect to record one-off integration expenses of
On completion, ClearScore will be included within
*GBP£/US$ exchange rate of 1.40 as at
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Experian received legal advice from Eversheds Sutherland, led by Jon Cox-Brown, with Financial and Tax advice provided by EY, led by Will Fisher.
Experian is the world's leading global information services company. During life's big moments - from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers - we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.
We have 16,000 people operating across 37 countries and every day we're investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the
This information is provided by RNS
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