Experian, a global information services company, has completed the sale of PriceGrabber and its North America online lead generation activities for 80m dollars, with a possible $30m extra on earnouts.
PriceGrabber, a price comparison shopping business, and LowerMyBills and ClassesUSA, will be sold to the management teams of those businesses.
The gross consideration is $80m, comprising $2m cash and a $78m loan note. In addition, if profit targets are met, Experian could receive up to $110m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Experian expects to realise cash tax relief of about $120m over the next two years.
For the year ended March 31st 2012, revenues for the businesses sold were $283m and earnings before interest and tax were £20m.
CM
-
Lloyds Bank closures to hit nearly 300 in 2025Lloyds Bank is to close its doors to another 55 branches next year. Which ones are closing?
-
Which British stocks offer the best quality and growth?A professional investor highlights British stocks that hit the sweet spot. This week, Alexandra Jackson, manager of Rathbone UK Opportunities Fund, picks three favourites
