Leeds firm bought for £1 billion
Leeds-headquartered consumer credit bureau Callcredit is set to be snapped up by New York Stock Exchange-listed TransUnion for £1 billion.
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.
"TransUnion and Callcredit have strong synergies across our business models and solutions, and we share a commitment to using information to benefit consumers and global economies alike," said Jim Peck, TransUnion's president and chief executive officer.
"Callcredit is an outstanding acquisition for TransUnion, and together, we'll be a powerful force to deliver value to shareholders, customers and consumers across all the markets we serve."
International expansion is a key growth strategy for TransUnion, which is already doing business in 33 countries.
It has an array of data, fraud, decisioning, analytics and consumer identity solutions.
"We continue to drive growth by identifying and investing in attractive international markets. As a leader in the world’s second largest credit market, Callcredit certainly fits the model," said David Neenan, president of TransUnion's international business.
"And, with the growing trend of multi-bureau usage in the UK, we believe this is the right time to introduce TransUnion into the market."
Mike Gordon, Callcredit chief executive officer, 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."