Experian, the data and technology company, announced the completion of its A$820 million acquisition of consumer and commercial credit bureau, illion, in Australia and New Zealand.
The acquisition and integration of illion’s 500 strong team, data, software and intellectual property into Experian will create a business that brings complementary capabilities, assets, people and customers.
The combined organization is set to deliver powerful, data-driven solutions for businesses and consumers.
Malin Holmberg, CEO Experian EMEA and Asia Pacific region, said that having led the Australia and New Zealand business for several years, Andrew Black, will be tasked with taking leadership of the combined entity, managing the integration and growth plans, while also leveraging their innovations.
Experian A/NZ CEO Andrew Black said Experian’s 5-year plan will aim to unlock value of the combined team and capabilities, with the initial stage balancing speed and service continuity for clients.
Black further noted that via this acquisition, they intend to continue their growth trajectory in Australia and New Zealand, while expanding their market and bringing various capabilities to redefine what a data-driven technology business could be.
Black confirmed that the combined entity will be rebranded to Experian, most probably within the coming year, even though some of the illion product names that have gained credible market awareness will continue.
Experian confirmed in the announcement, that John Banfield, CEO of illion, will be stepping down after the completion of the acquisition.
Banfield is said to have served a key role in transforming illion’s performance and culture, finally leading to the firm’s acquisition by Experian.
As covered, Experian is a data and technology company, powering opportunities for people and businesses around the world.
They aim to help to redefine lending practices, uncover and prevent fraud, simplify healthcare, deliver digital marketing solutions, and gain deeper insights into the automotive market, all using our unique combination of data, analytics and software.
Experian also assists people with realizing their financial goals and help them to save time and money.
They operate across a range of markets, from financial services to healthcare, automotive, agribusiness, insurance, and many more industry segments.
They invest in talented people and new advanced technologies to unlock the power of data and innovate.
As a FTSE 100 Index company listed on the London Stock Exchange (EXPN), they have a team of 22,500 people across 32 countries. Our corporate headquarters are in Dublin, Ireland.