2nd Sep 2015 14:10
LONDON (Alliance News) - Experian PLC on Wednesday said it has agreed to sell Baker Hill to private equity firm The Riverside Co for USD100 million.
The information services company said the deal to sell the US regional and community banking software provider is part of its strategy to focus on its bigger businesses and operating regions.
"While successfully established in its niche, its software suite and customer base have limited overlap with Experian Decision Analytics and as such it is peripheral to our core strategy going forward," Experian said in a statement.
Baker Hill had revenue of USD31 million in the year ended March 31, according to Experian, which said the figure was included with its North America Decision Analytics segment.
Experian shares were up 0.8% at 1,084.00 pence per share on Wednesday afternoon in London.
By Samuel Agini; [email protected]; @samuelagini
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