Experian to acquire illion, strengthening presence in Australia and New Zealand credit market

Experian to acquire illion, strengthening presence in Australia and New Zealand credit market
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Experian this week announced the signing of an agreement to acquire illion, a top consumer and commercial credit bureau operating in Australia and New Zealand. This move significantly bolsters Experian's position within this economically vital region.

“We are delighted to announce that Experian has entered into an agreement to acquire illion, a highly complementary business to Experian in Australia and New Zealand (A/NZ)," said Brian Cassin, Chief Executive Officer of Experian. "This marks a pivotal step in our longstanding commitment to the region and reinforces our dedication to delivering exceptional value and more choice to clients in A/NZ.”

Established in Australia in 1986, illion excels in comprehensive consumer and commercial credit reporting, along with identity and verification solutions. The acquisition complements Experian's existing presence in the region, known for its decisioning software, open data, data quality services, and consumer bureau services.

This strategic move aligns with regulatory reforms in Australia promoting positive data use and open data services. These reforms have expanded data sources and analytical tools available to financial institutions, leading to greater demand for data-driven solutions that Experian is well-suited to provide.

Benefits of the Acquisition

  • Enhanced Competition: The combination of Experian and illion introduces a strong competitive alternative in the Australia and New Zealand market, driving innovation and better services for businesses.
  • Expanded Service Offering: Clients gain access to a complete suite of services, including consumer and commercial bureau services, robust identity management solutions, advanced analytics, and decisioning software.
  • Global Innovation: Experian will introduce platforms like Experian Ascend and the PowerCurve decisioning suite, accelerating digital transformation within the Australian financial sector.

Experian will acquire 100% of illion for up to A$820m (c.US$532m*), funded by existing cash resources. Regulatory approval in Australia is anticipated in the second half of 2024.

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