Mergers and Acquistions News
Categories: Media & Information Services
September 22nd 2010, 16:52PM
Experian, the global credit information company, has announced the acquisition of online credit monitoring services provider Mighty Net for $207.5 million (£132.8 million).
Experian said the acquisition will welcome lucrative brands and consolidate its position in the credit checks market.
Mighty Net, which has around 360,000 US subscribers, channels its products through the CreditReport.com, CreditScore.com and MyCreditScore.com websites. They will complement Experian's FreeCreditScore.com, FreeCreditReport.com and ProtectMyID.com outlets.
Formed in 1996, Mighty Net provides online services to consumers to help them monitor their credit activity. Users subscribe to a range of reports and data access, such as bureau reports, bureau scores, credit score tracking and credit file monitoring services.
Experian also announced its intention to work toward a cost-saving plan in its tech, infrastructure and back office operations, forecasting annual savings of up to $4 million (£2.56 million) in the year to 31st March 2012.
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