Experian signs agreement to sell controlling interest in Email/Cross-Channel Marketing

Experian signs agreement to sell controlling interest in Email/Cross-Channel Marketing in a further step to sharpen strategic focus

3 April 2017 - Experian, the global information services company, announces that it has signed a definitive agreement to sell its Email/Cross-Channel Marketing business (CCM) to Vector Capital. 

The enterprise value of CCM at completion is c. US$400m on a cash and debt free basis. Experian has agreed to divest a 75% interest in CCM to Vector Capital, with Experian retaining the balance. The transaction is subject to customary closing conditions and is expected to complete during the first half of the financial year ending 31 March 2018. 

Brian Cassin, Chief Executive Officer said: 

“Two years ago we introduced our new strategy and one of its five key pillars has been to further focus our portfolio. In November 2016, we stated that following a strategic review of Marketing Services we saw fewer synergies between CCM and other parts of Experian. CCM has been a great investment for Experian, having rapidly grown from small acquisitions to become one of the leading global players in the industry. With the actions we’ve taken over the past two years to further improve the business, it is starting to regain momentum, and under new ownership it is well positioned to continue to make progress.

“Vector Capital is a leading technology investor with a strong track record. The combined expertise of the CCM and Vector Capital operating teams will draw on the strength of both the CCM team and of industry leaders hired by Vector Capital, including Peter McCormick, the co-founder of ExactTarget. This will enable CCM to realise its ambition to serve the biggest brands in the world and fully seize the opportunities ahead. We believe this will lead to significant future benefits for Vector Capital, Experian and the CCM team.”

Further information:

CCM provides services which help clients to develop, target and deliver marketing offers to consumers through email and across multiple online channels. It has formed part of Experian’s Marketing Services business.

In view of our agreement to sell a controlling stake, CCM will be treated as a discontinued operation in the Group’s financial statements for the year ended 31 March 2017. As such CCM’s contribution will be excluded from organic revenue growth, Benchmark profit before tax and Benchmark earnings per share (EPS). For the year ended 31 March 2017, CCM is expected to generate EBIT of c. $52m and has a pro forma effect on Benchmark EPS of 3 cents, before taking into account the redeployment of net cash proceeds.

Net proceeds on closing to Experian will be 75% of the enterprise value, and will be after transaction costs and taxes. Experian will retain a 25% equity interest in CCM and a seller note for US$75m. On a pro forma basis net debt to EBITDA is expected to be c.1.9-2.0x at 31 March 2017, compared to the Group’s target range of 2-2.5x.




Andrew Simms             Head of Investor Relations                                +44 (0)20 3042 4215

Gerry Tschopp            Senior VP, Group Communications                    +1 714 830 7756


Rollo Head                                                                                            +44 (0)20 7251 3801

Jenny Davey


Morgan Stanley & Co. LLC served as Experian’s exclusive financial advisor in connection with the transaction.


About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.  

We have 17,000 people operating across 37 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.  

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.