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Experian has signed an agreement to acquire Krediidiinfo A/S in Estonia from its
management.
Krediidiinfo is the primary consumer and commercial credit information group in
Estonia and will complement Experian’s existing global network of consumer and
commercial credit bureaux.
Krediidiinfo, which will be known as Krediidiinfo A/S, an Experian company,
currently employs 30 people in Tallinn and Tartu.
As well as operating business and consumer credit bureaux, Tallinn also offers
credit management and B2B marketing services.
Krediidiinfo’s clients include most of the country’s leading financial services
providers, utilities, telecommunications and retail companies, as well as many
Nordic banks with operations in Estonia.
Announcing the acquisition, Richard Fiddis, Managing Director, UK, Ireland &
Northern Europe at Experian, explained: "Experian is already well
established in the Nordic region."
"Our clients in the region have benefited from Experian’s expertise in
application processing, fraud prevention and customer management solutions.
"By combining these with the products, local knowledge and reputation of Krediidiinfo, we can offer our clients in Estonia the broadest range of
solutions.
“The acquisition will further benefit financial institutions and telecoms
companies in the region, many of whom are already our clients elsewhere in the
Nordic region, as well as of Krediidiinfo, by offering them a region-wide
infrastructure.
"This enables them to apply consistent strategies and technologies wherever they
operate in the region.
"It also reinforces Experian’s position as a leading European provider of
customer management and information solutions.
"Krediidiinfo has a strong market position, proven management and a consistent
growth record. We believe this acquisition will bring considerable benefits to
clients of both Experian and Krediidiinfo in the Nordic region.
“Estonia is one of the fastest growing economies in the EU and, together with
the other Baltic states, has significant growth potential driven both by their
recent accession to the EU and a young, well-educated workforce that is
enthusiastically embracing the benefits and lifestyles enjoyed by the
populations of many of their European partners.”
Veiko Meos, Managing Director of Krediidiinfo, added: "We believe that we have
found the ideal new owner in Experian.
"Both companies have a similar, client-centred ethos, Experian has a thorough
understanding of the business and Krediidiinfo people will benefit by being part
of the Experian organisation."
Source:
Credit
Control Journal
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