Big four JV Experian eyes Illion takeover
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The news: Experian Australia Credit Services — the joint venture of Experian Australia, the big four banks, Latitude Financial and American Express — is seeking to acquire Illion.
The context: The acquisition is currently under consideration by the ACCC, which is accepting submissions until 19 April.
Experian Australia is the majority shareholder of Experian Bureau, while ANZ, Commonwealth Bank, NAB, Westpac, Latitude and American Express all hold minority interests.
Illion is majority owned by funds managed by private equity investor Archer Capital.
Both Experian and Illion provide consumer credit reporting services in Australia to lenders, utilities, telecommunication providers and loan providers.
The companies also supply related services, including software for managing customer originations, marketing services, categorisation solutions and identity verification services.
The source: ACCC
