Thursday 23 November 2017

Experian sells two divisions in $47m deal

New chief executive officer Fin O’Driscoll, left, with Unity Technology Solutions chairman David Hargaden
New chief executive officer Fin O’Driscoll, left, with Unity Technology Solutions chairman David Hargaden

Paul O'Donoghue

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.

Irish Independent

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