Experian, the global information solutions company, 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, Experian, said:
“Experian is already well established in the Nordic region, where we provide major banks and other organisations with decision support solutions, market and economic analytics, fraud prevention and consumer and commercial credit information services. Our clients in the region have benefited from Experian’s expertise in application processing, fraud prevention and customer management solutions, and 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.”
The acquisition of Krediidiinfo is consistent with Experian’s global strategy of acquiring complementary businesses that provide new products, new data or entry into new vertical or regional markets, while leveraging the core assets of Experian.
|Tim Wolff Jacobsen||Regional Managing Director,
Experian Northern Europe
|T: (45) 23 46 98 83
|Veiko Meos||Managing Director,
|T: (372) 665 9600
The word ‘Experian’ is a registered trademark in the EU and other countries and is owned by Experian Ltd and/or its associated companies.
Krediidiinfo AS is a limited company founded by a group of Estonian banks in August 1993 in order to build a credit information system in Estonia. Since then, it has become a leading company in the field of credit information services in the Baltic States, being the only member of FEBIS in this region. Krediidisnfo supplies credit reporting related products on companies in Estonia, Latvia and Lithuania to business information and credit insurance companies worldwide to help them forecast future market demands, assess new growth opportunities and make the right business decisions.
Krediidiinfo credit reports on Baltic business entities can be delivered online for rapid delivery. Its database holds information on all legal persons registered in Estonian Trade Register. Reports are based on the companies’ economic and financial data and include financial analysis of their economic and financial status, including debts to Estonian Tax and Customs Board and references to recent developments at the companies. Information is gathered from different nationally recognised sources. Krediidiinfo also offers Marketing Information and a Direct Mailing service.
For more information, visit the company’s website on www.krediidiinfo.ee.