Global information services company Experian has completed the acquisition of South African credit bureau Compuscan and decision analytics firm Scoresharp.
Experian has committed to spend at least R120 million on technological enhancements, establishing SA as an investment hub.
In December, growth markets investor Actis agreed to sell Compuscan and Scoresharp to Experian.
Experian says the combined organisation will spur financial inclusion across the African region, bringing more people into the credit economy.
It believes the acquisition will deliver a wide range of services and opportunities for clients and employees across the group.
Compuscan's decisioning and analytics services are powered by Scoresharp, a data and analytics company specialising in scorecards, predictive modelling, risk management and analytical consultancy services.
In 2011, Compuscan acquired shares in Scoresharp and since then, both companies have been able to grow the services they offer in the finance, credit and retail industries, among others.
Experian notes that enhanced innovation, product and service capabilities will be deployed across the region, building on Compuscan's presence in six Sub-Saharan African countries and both companies' existing South African footprints.
It points out the acquisition will extend the services offered to clients of both companies. Compuscan and Scoresharp's analytics, scores and data quality will further strengthen Experian's core bureau data and decisioning software, while Experian's global technology capabilities and complex business information will add depth and breadth to Compuscan and Scoresharp's services.
Compuscan founder and chief executive Remo Lenisa takes on a new role as chief executive of the joint organisation, alongside a combined leadership team.
Charles Butterworth, MD of Experian UK, Ireland and EMEA, says: "This is a major achievement for Experian in the South African market and the wider Africa region, and demonstrates our commitment to economic development.
"South Africa is a vital hub for our regional strategy and this acquisition is just one of the investments we've made to build our presence here. Together with Compuscan and Scoresharp, we are in a position to deliver a new world of opportunities for both our clients and our people by expanding both companies' successes across Africa."
Lenisa says: "We are bringing together the best of both organisations to create a single, powerful, customer-centric business.
"Compuscan and Scoresharp bring analytical scale, relationships and expertise, alongside advanced bureau technology and data quality. Experian brings global experience, technology and innovation, with digital capabilities, machine learning and software.
"All three organisations are deeply committed to the importance of quality, accurate and reliable data. I am excited by the opportunity for the newly combined organisation to bring new innovations to market at a faster scale, enabled by our shared bureau data."
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