Experian swoops for Computec
Nottingham-based Experian has become the majority shareholder in Computec, a Latin American credit services information provider. The deal values Computec at about £242.8m.
Computec is a publicly listed company on the Colombian stock exchange. Data services provider Experian has offered £3.50p per share, equivalent to a valuation of about £242.8m for 100 per cent of the equity.
The transaction is subject to regulatory approval and the launching of a delisting tender offer, and is expected to complete in the second half of 2011.
Computec's products include the provision of online credit reports, scores, identity validation tools and fraud prevention services. Alongisde its Columbian site, the company also owns the only credit bureau in Venezuela and an early stage development bureau in Peru.
Experian said the acquisition of a controlling stake will further strengthen its Latin American presence, building on the position it has established in Brazil.
The transaction is expected to be funded from existing cash resources.
