Experian's Acquisition of illion Unopposed by ACCC
Summary
The Australian Competition and Consumer Commission (ACCC) has announced that it will not oppose the acquisition of Credit Data Solutions Pty Ltd (illion) by Experian Australia Credit Services Pty Ltd (Experian).
Details
- Experian announced its intention to acquire 100% of illion's shares on April 4, 2024.
- The acquisition will enable Experian to offer expanded choices in Australia and New Zealand (ANZ).
- The ACCC's decision was based on its assessment that the acquisition will not substantially lessen competition in the relevant markets.
Background
Experian is a global information services company that provides credit data and analytics to businesses and consumers.
illion is a provider of consumer and commercial credit information in Australia and New Zealand.
Implications
The acquisition will allow Experian to enhance its offerings in the ANZ region.
The ACCC's decision is significant as it signals its support for the transaction and its belief that it will not harm competition.
Analysis
Industry experts believe that the acquisition could pave the way for further merger and acquisition activity in the credit data sector.
The acquisition is subject to regulatory approvals.
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