26 October 2012- Experian, the global
information services company, announces that it has
completed the sale of its price comparison shopping
business (PriceGrabber) and its North America online lead
generation activities (LowerMyBills and ClassesUSA) to the
management team of those businesses.
The gross consideration is US$80m, consisting of
US$2m cash at closing and a US$78m loan note. In addition
further consideration is available to Experian if defined
profit targets are achieved over time and in certain other
circumstances, up to a fully inclusive total of US$110m. In
respect of the transaction, Experian expects to realise
cash tax relief of approximately US$120m over the next two
Don Robert, Chief Executive of Experian said:
"Over the past four years, we have focused our
strategy on extending our global lead in credit information
and analytics, digital marketing services and consumer
services. As part of that process, we designated
PriceGrabber and the lead generation activities as non-core
operations, believing that they would be best developed by
an independent owner. We thank all our friends and
colleagues at these businesses for their support over the
years and wish them every future success."
For the year ended 31 March 2012, revenues for the
businesses sold were US$283m and EBIT was US$20m.
+44 (0)20 3042 4215
Director, UK&I and EMEA
(0)20 7251 3801
Experian is the leading global information services
company, providing data and analytical tools to clients
around the world. The Group helps businesses to manage
credit risk, prevent fraud, target marketing offers and
automate decision making. Experian also helps individuals
to check their credit report and credit score, and protect
against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN)
and is a constituent of the FTSE 100 index. Total revenue
for the year ended 31 March 2012 was US$4.5 billion.
Experian employs approximately 17,000 people in 44
countries and has its corporate headquarters in Dublin,
Ireland, with operational headquarters in Nottingham, UK;
California, US; and São Paulo, Brazil.
This information is provided by RNS
The company news service from the London Stock Exchange