£1bn takeover of Leeds tech firm completes
New York Stock Exchange-listed TransUnion has completed its £1 billion acquisition of consumer credit bureau Callcredit.
Founded in 2000, Callcredit provides technology solutions to businesses and specialises in credit referencing, fraud and analytics.
It is the second-largest and fastest-growing consumer credit bureau in the UK.
"We are pleased to have received regulatory approval to acquire Callcredit, and we look forward to beginning the integration of the two businesses," said Jim Peck, TransUnion’s president and chief executive officer.
"It's clear that the combination of our respective assets will drive value to our investors, customers and consumers in both the United Kingdom and across global markets TransUnion serves."
The deal to purchase Leeds-headquartered Callcredit was first announced at the end of April, and has now been given the go-ahead by the UK’s Financial Conduct Authority (FCA).
At the time of its announcement, Callcredit CEO Mike Gordon said: "Investment by a global company with an established track record, shared values and leadership who recognized our market potential is absolutely the right fit for us and the market.
"We are excited about the future and unique opportunity to elevate our competitive advantage with TransUnion through our combined innovation and expertise."
RBC Capital Markets, Deutsche Bank, Bank of America Merrill Lynch, Capital One, Citi Group and Sidley Austin all advised on the transaction.
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