28 July 2017
visit www.avoka.com

Experian buys US cost comparison service

05 May 2005  |  4539 views  |  0 hand shake

Credit information agency Experian has acquired LowerMyBills.com, an online service that enables US consumers to compare deals on loans, mortgages, insurance and other products, for $330m, plus a maximum performance-related earn-out of $50m over the next two years.

Formed in 1999 in California, LowerMyBills.com enables users to compare offerings from 400 service providers across 17 categories including home loans, credit cards, wireless services and car and health insurance.

Experian's parent company GUS says the acquisition is being funded from its existing banking facilities and is expected to generate a double-digit post-tax return on investment over time and is immediately accretive to earnings.

In a statement, Don Robert, CEO, Experian, says: "This acquisition represents a step-change in building Experian's direct-to-consumer activities...The strategic fit could not be better."

GUS is rumoured to be considering spinning off its credit checking unit and concentrating on its retail activities instead. The latest acquisition, which expands Experian's services, would increase the value of any demerger.

The vendor says all employees and management for LowerMyBills.com will be retained. The business will become part of the Experian Interactive unit, which also includes the vendor's Consumer Direct, MetaReward and Affiliate Fuel services.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.worldpaymentsreport.comvisit vasco.com/news/PSD2-compliant-solutions

Who is commenting?

Top topics

Most viewed Most shared
UK judge blocks £14bn class action suit against MastercardUK judge blocks £14bn class action su...
11295 views comments | 7 tweets | 7 linkedin
Yet more deals announced in payments sectorYet more deals announced in payments secto...
10357 views comments | 7 tweets | 21 linkedin
Machines could take over 30% of bank jobs: McKinseyMachines could take over 30% of bank jobs:...
10260 views comments | 30 tweets | 29 linkedin
US firm to implant employees with RFID chipsUS firm to implant employees with RFID chi...
9013 views 16 comments | 33 tweets | 38 linkedin
Credit scoring startup Aire raises $5m; wins Zopa dealCredit scoring startup Aire raises $5m; wi...
8091 views comments | 9 tweets | 8 linkedin

Featured job

£100-120K Basic dependent on experience plus subst...
London

Find your next job