The two entities will rebrand as Experian
Experian announced the completion of its $820 million acquisition of illion, a consumer and commercial credit bureau in Australia and New Zealand. The combined organisation aims to enhance market options and provide data-driven solutions for businesses and consumers across the region.
“Having successfully led the Australia and New Zealand business for the past seven years, Andrew Black will take leadership of the combined organisation, overseeing the strategic integration and growth plans, leveraging our global innovations,” said Malin Holmberg, CEO of Experian EMEA and Asia Pacific region.
Black (pictured) said the company's five-year plan will unlock the value in the combined teams and capabilities, with an initial focus on balancing speed and continuity of service for customers.
“This is a historic day for our business, our people and our customers – and it’s just the beginning,” Black said. “Through this acquisition, we aim to continue our growth trajectory in Australia and New Zealand, significantly expand our market and bring new capabilities to redefine what a data-driven technology business can be.
“illion has built an impressive product portfolio, data assets and customer base that are diverse and complementary to Experian’s strengths and we have a robust integration plan that will enable our customers to quickly realise the benefits of the combined entities,” Black said.
“One of the big wins here is the combined data assets which will provide more choice for our customers. This is going to supercharge our product and service capabilities, in alignment with Experian’s global strategy, in a way that simply hasn’t been possible before.”
Black confirmed the new combined entity will rebrand as Experian, likely within the next 12 months, though some illion product names with strong market recognition will remain.
“Our people are our greatest competitive differentiator, which is not only recognised by our customers but also leading workplace authorities such as Great Place to Work and Work180. The integration will foster a culture of collaboration, bringing together our best talent to create a unified, empowered and high-performing team,” Black said.
Experian confirmed that illion CEO John Banfield will step down following the acquisition. Banfield played a key role in transforming illion's performance and culture, culminating in the company’s acquisition by Experian.
