Experian Expands Into Brazil With $350 Million ClearSale Buy
By Ian Walker
Experian is set to buy Brazilian digital fraud prevention provider ClearSale for $350 million, expanding its offering in the country.
The credit-reporting agency said Friday that it is paying 10.56 Brazilian reals ($1.93) for each ClearSale share, to be funded from existing cash and the issue of Brazilian Depositary Receipts.
It expects the business to add revenue of 490 million reals and benchmark earnings before interest, taxes, depreciation and amortization of 130 million reals in its first full year of ownership.
The acquisition is conditional upon regulatory approvals and expected to complete in the first half of next year, Experian said.
"ClearSale will add to our growth potential in Brazil and is a further step towards our ambition to provide comprehensive ID&F [identity and fraud] and credit risk solutions through our integrated platform," Chief Executive Brian Cassin said.
Shares were down 65.0 pence, or 1.6%, at 3,894.0 pence in early afternoon European trading. However they are up 22% over the year to date.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
October 04, 2024 08:17 ET (12:17 GMT)
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