Experian to buy CSIdentity Corporation for $360 million
The total purchase price was $360 million, payable in full at closing, to be funded from Experian's existing committed bank facilities.
Experian's board said the transaction remained subject to Hart-Scott-Rodino regulatory approval in the United States as well as other customary closing conditions.
"The acquisition of CSID accelerates execution of our consumer services strategy and enables us to address a broader spectrum of the consumer market," said Experian chief executive officer Brian Cassin.
"By combining Experian and CSID capabilities, we will provide best-in-class products to give consumers greater control over their identity and credit information in one proposition.
"We look forward to welcoming the CSID team to Experian and building stronger and ever more compelling services which help consumers to protect, manage and make the most of their data."
Cassin said that, following completion, the board expected CSID to be immediately enhancing to group earnings. ■