GUS confirms Experian spin off ambitions

GUS confirms Experian spin off ambitions

GUS plc has publicly confirmed plans to spin off its information services subsidiary Experian.

Experian's revenue this year has grown six per cent to £1.36bn, with operating profit up almost 13% to £318.3m.

The highly acquisitive firm spent £181 million on buying 16 companies and 11 affiliate credit bureaux in the 12 months to end-March. Earlier this month, Experian acquired, 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.

In a statement today, the GUS board says it believes a "separation" of Experian will further enhance shareholder value, but insists that it will continue to invest in the business and drive growth while waiting for the "right time" to sell.

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