IN BRIEF: Experian buys stake in Brazil-based Mova for USD8 million
16th May 2022 09:07
Experian PLC - Dublin-based credit checking - Agrees to buy a 51% stake in Sao Paulo, Brazil-based fintech company Mova Sociedade de Emprestimo entre Pessoas SA from private investor Erico Sodre Quirino and Chief Executive & Founder Roberto Tesch. Says it will pay roughly USD7.9 million in cash for the interest on completion and an earnout based on Mova's 2024 net revenue. Experian also has a call option to buy the remaining 49% stake between 2026 and 2028. Mova is focused on business-to-business solutions. Experian says Mova is "highly complementary" to its existing business-to-business offering. Read More