Experian, the global information solutions company, has signed an agreement to acquire Krediidiinfo A/S in Estonia from its management.
Krediidiinfo is the primary consumer and commercial credit information group in Estonia and will complement Experian's existing global network of consumer and commercial credit bureaux.
Krediidiinfo, which will be known as Krediidiinfo A/S, an Experian company, currently employs 30 people in Tallinn and Tartu. As well as operating business and consumer credit bureaux, Tallinn also offers credit management and B2B marketing services. Krediidiinfo's clients include most of the country's leading financial services providers, utilities, telecommunications and retail companies, as well as many Nordic banks with operations in Estonia.
Announcing the acquisition, Richard Fiddis, Managing Director, UK, Ireland & Northern Europe, Experian, said: "Experian is already well established in the Nordic region, where we provide major banks and other organisations with decision support solutions, market and economic analytics, fraud prevention and consumer and commercial credit information services. Our clients in the region have benefited from Experian's expertise in application processing, fraud prevention and customer management solutions, and by combining these with the products, local knowledge and reputation of Krediidiinfo, we can offer our clients in Estonia the broadest range of solutions.
"The acquisition will further benefit financial institutions and telecoms companies in the region, many of whom are already our clients elsewhere in the Nordic region, as well as of Krediidiinfo, by offering them a region-wide infrastructure. This enables them to apply consistent strategies and technologies wherever they operate in the region.
"It also reinforces Experian's position as a leading European provider of customer management and information solutions. Krediidiinfo has a strong market position, proven management and a consistent growth record. We believe this acquisition will bring considerable benefits to clients of both Experian and Krediidiinfo in the Nordic region.
"Estonia is one of the fastest growing economies in the EU and, together with the other Baltic states, has significant growth potential driven both by their recent accession to the EU and a young, well-educated workforce that is enthusiastically embracing the benefits and lifestyles enjoyed by the populations of many of their European partners."
Veiko Meos, Managing Director of Krediidiinfo, added: "We believe that we have found the ideal new owner in Experian. Both companies have a similar, client-centred ethos, Experian has a thorough understanding of the business and Krediidiinfo people will benefit by being part of the Experian organisation."
The acquisition of Krediidiinfo is consistent with Experian's global strategy of acquiring complementary businesses that provide new products, new data or entry into new vertical or regional markets, while leveraging the core assets of Experian.
Separately, Experian, a global information solutions company, today announced a new subscription-based credit monitoring plan that provides business owners with unlimited access to their commercial credit reports. Available through Experian's SmartBusinessReports.com(TM) Web site, Credit Insure(SM) allows users to more closely monitor business information to help them protect their business and reduce credit risk.
By using Credit Insure, business owners can monitor their company's credit, as well as the credit of companies they may do business with. The new plan's structure allows users to have unlimited access to their subscribed credit reports instead of having to pay each time a report is pulled. Credit Insure also includes an e-mail alert system that notifies business owners of significant changes in their credit status that may affect their overall credit rating, such as inquiries, late trade payments, or major events like liens, judgments and bankruptcies.
"Organizations need the most up-to-date information when making business decisions, extending credit, or researching partners, competitors or potential suppliers," said Mark Zablan, president, Experian's Business Information Solutions group. "Credit Insure was designed to not only assist business owners in managing risk, but also to provide them with a comprehensive resource to track business performance and protect themselves against identity theft."
Experian's recently redesigned SmartBusinessReports.com homepage includes an easy-to-read credit dashboard displaying the monitored companies' current credit score. The dashboard also includes a graphic indicator representing how the score has changed over the previous three months, providing Credit Insure subscribers with a quick look at the scoring trends of that business. Additionally, the new site includes a comprehensive library of materials designed to educate business owners on a variety of commercial credit topics.