Experian sells two divisions in $47m deal
Dublin-based information services group Experian is to offload two of its consumer insights businesses to US private equity firm Symphony Technology Group in a deal worth up to $52m.
Experian said it decided to sell the two companies, Hitwise and Simmons, as part of a broader strategic review. The Dublin-headquartered firm will receive $47m in cash plus potential for $5m more in bonuses based on future earnings.
Symphony acquired Hitwise in order to expand its abilities to track online behaviour of its customers and potential customers. Hitwise recently launched AudienceView, a segmentation and behavioural analytics platform.
Experian is one of the biggest credit-checking firms in the world with 17,000 staff and revenue of about $4.8bn in the year to the end of March 2014. Hitwise and Simmons generated revenues of $74m during that period.
Meanwhile, last month former Experian Ireland managing director Fin O'Driscoll was appointed CEO of Irish firm Unity Technology Solutions.