TransUnion has announced its acquisition of CallCredit, the second largest and fastest growing consumer credit bureau in the UK.
Headquartered in Leeds, Callcredit is a U.K.-based information solutions company and was purchased for £1bn ($1.4bn). The deal is expected to close in the second or third quarter of this year, depending on regulatory approval.
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“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.”
“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.”
“Investment by a global company with an established track record, shared values and leadership who recognised 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 is a consumer credit reporting agency. Founded in 1968, it now aggregates information on over one billion consumers and works with over 65,000 businesses. It is the smallest of the ‘Big Three’ credit agencies, following Experian and Equifax.
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By GlobalDataIn 2017, the firm had acquired three companies: FactorTrust, eBureau, and Datalink Services.
