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Experian set to acquire illion in Australia and New Zealand

By Gloria Mathias

April 11, 2024

  • APAC news
  • Australia news
  • Credit Platform
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illion, Experian, Fintech News, Fintech Acquisitions, Fintech Solutions, Fintech News APAC, APAC News, Newzealand news, Australia News, Lending news, Loans News, Credit Platform, Experian, the global information services company, has signed an agreement to acquire illion, a consumer and commercial credit bureau in Australia and New Zealand.

Brian Cassin, Chief Executive Officer, said, “We are delighted to announce that Experian has agreed to acquire illion, a highly complementary business to Experian in Australia and New Zealand (A/NZ), which will enhance the competitive dynamics in this important market. 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 1986 in Australia, illion is a bureau provider of consumer credit reporting, commercial credit reporting, and identity and verification solutions in Australia and New Zealand.

Its strategy in EMEA and Asia Pacific is to focus on markets which have a clear opportunity to operate at scale and deliver innovation-led growth. Experian has operated in A/NZ for over 30 years, serving lending and other institutions with decisioning software, open data, data quality services, and consumer bureau services.

The acquisition of illion will enable Experian to make full use of this opportunity and offer enhanced choice in A/NZ by providing a meaningful competitive alternative to help businesses accelerate the adoption of digital services. It is highly complementary and synergistic to Experian A/NZ, the combination of which would present a more complete service for clients, adding depth to consumer bureau services, an attractive position in commercial credit bureau services, and capabilities in identity management solutions.

More businesses in A/NZ will benefit from Experian’s global platforms to speed up the process of credit granting, enhance digital experiences for users, reduce fraudulent exposure and improve efficiency in banking and other sectors. Experian will be well positioned to introduce more innovation in Australia through capabilities such as the Experian Ascend unified platform, which encompasses Experian’s sophisticated analytics, and our PowerCurve decisioning suite.

The acquisition of 100% of illion is for a total consideration of up to A$820 million ($532 million), payable on completion of the transaction, and to be funded from Experian’s existing cash resources.

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