Information services specialist Experian (EXPN) announced that it has signed a definitive agreement to acquire CSIdentity Corporation, a provider of consumer identity management and fraud detection services. The purchase price was $360m (£251m), which is to be funded from Experian's existing bank facilities.
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The deal opens up the US identity protection market, which is estimated to be worth $1.6bn. CSIdentity employs proprietary technology to monitor websites in real time, including blogs, bulletin boards and chat rooms in order to identify the illegal trading of personal data.