Johannesburg, 01 Dec 2008
Experian, the global information services company, has acquired KreditInform, a South African leader in business credit management solutions. The acquisition will further strengthen Experian's position in South Africa as the only provider of the full spectrum of consumer and business risk solutions.
Founded in 1982, KreditInform operates one of the most comprehensive and up-to-date commercial information databases in South Africa. Recognised as an innovator, the company has pioneered revolutionary software and IT-based products and information services.
The integration of the two businesses, which are highly complementary in nature, offers meaningful benefits for the local credit services industry as a whole. Kim Jenkins, Managing Director of Experian South Africa and the newly merged entity, said: “The acquisition is a logical step in Experian's growth strategy to become the obvious choice of strategic value-adding partner in the credit risk optimisation arena. Coupled with Experian's superior global risk optimisation capabilities, this acquisition rounds out our offering in the South African market and allows Experian South Africa to provide a superior capability in response to the full spectrum of our clients' credit risk management needs.”
Ivor Jones, Founder and Managing Director of KreditInform until the acquisition, added: “There is a huge opportunity from combining the two companies' extensive credit data and risk management capabilities to offer exciting new products into the business and consumer information arena.”
Mowana Investments, BEE partner to Experian South Africa since 2006, will maintain its 25.1% equity stake in the expanded business. Nkenke Kekana, an Executive Director of Mowana Investments, added: “The expansion of Experian's operations is a vote of confidence by a major multinational in the potential of South Africa and long-term development of the region.”
Share