TransUnion (NYSE: TRU) announced on Friday it has agreed to acquire UK-based consumer credit bureau Callcredit. The credit bureau giant reported it acquired Callcredit for the price of £1 billion. While sharing more details about the acquisition, Jim Peck, TransUnion’s President and CEO, stated:
“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.”
TransUnion also reported that its key growth strategy is international expansion. It is currently doing business in more than 30 countries and has applied its global operating model to all acquisitions, optimizing business and operation processes. David Neenan, President of TransUnion’s International Business, also reported:
“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.”
Mike Gordon, Callcredit CEO, then commented:
“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 added that the acquisition is anticipated to close late in the second quarter or early in the third quarter pending regulatory approval.