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.
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.
It's estimated that the deal should add about $120m to its revenues for its March 2017 year-end, in addition to adding around $30m in earnings before interest and tax over the same period.
