The Experian group has signed an agreement to acquire Ilion, one of the main consumer and commercial credit bureaus operating in Australia and New Zealand.
Satisfaction was expressed by CEO Brian Cassin who confirms the strong commitment to increasing Equifax’s presence in the Australian New Zealand area.
Ilion was founded in 1986 in Australia, and provides consumer credit reporting services, commercial credit reporting and identity verification solutions in Australia and New Zealand.
For Experian, Australia represents the fifth country in terms of turnover and this market is constantly evolving with the aim of facilitating and improving access to credit for an ever-wider audience of consumers and businesses, including from a cost perspective.
Experian will therefore be even better positioned following this acquisition to bring greater innovation to Australia through features such as the unified Experian Ascend platform, which includes Experian’s sophisticated analytics, and the PowerCurve decision suite.
The acquisition of 100% of Ilion provides total consideration of up to A$820 million (approximately US$532 million*), payable upon completion of the transaction and funded from Experian’s existing cash resources. The acquisition is subject to regulatory review by the Australian Competition Authority which is expected to be completed in the second half of calendar year 2024. Total revenues of $175 million A$ are expected in Experian’s first full year of ownership and benchmark EBITDA of approximately 65 million A$ This will compare with Experian’s revenues in A/NZ which are expected to be around A$115 million in FY24.
