Experian, the data and technology company, has completed its A$820 million acquisition of consumer and commercial credit bureau, illion, in Australia and New Zealand.
The acquisition and integration of illion’s 500 strong team, data, software and intellectual property into Experian will create a unified business that brings together complementary capabilities, assets, people and customers. The combined organisation is set to enhance market choice and deliver powerful, data-driven solutions for businesses and consumers across the region.
Malin Holmberg, CEO Experian EMEA and Asia Pacific region, said: “Having successfully led the Australia and New Zealand business for the past seven years, Andrew Black, will take leadership of the combined organisation, overseeing the strategic integration and growth plans, leveraging our global innovations.”
Experian A/NZ CEO Andrew Black said Experian’s five-year strategic plan will quickly unlock value of the combined team and capabilities, with the first phase balancing speed and service continuity for customers.
“This is a historic day for our business, our people and our customers – and it’s just the beginning,” Black said. “Through this acquisition we aim to continue our growth trajectory in Australia and New Zealand, significantly expand our market and bring new capabilities to redefine what a data-driven technology business can be.
“illion has built an impressive product portfolio, data assets and customer base that are diverse and complementary to Experian’s strengths and we have a robust integration plan that will enable our customers to quickly realise the benefits of the combined entities.
“One of the big wins here is the combined data assets which will provide more choice for our customers. This is going to supercharge our product and service capabilities, in alignment with Experian’s global strategy, in a way that simply hasn’t been possible before.”
Black confirmed that the new combined entity will be rebranded to Experian, likely within the next 12 months, although some of the illion product names that have gained credible market awareness will continue.
Experian confirmed that John Banfield, CEO of illion, will be stepping down following the successful completion of the acquisition. Banfield played a pivotal role in transforming illion’s performance and culture, culminating in the company’s acquisition by Experian.
