Google could soon be partnering with private equity fund Permira to make a joint bid for Tesco’s customer data business.
The two firms are in talks to make a bid for Tesco’s data wing, Dunnhumby, which gathers and analyses data from about 1bn shoppers across the world, according to reports from Sky News and Reuters last night.
Dunnhumby could be valued at up to £1bn.
Tesco appointed Goldman Sachs to explore strategic options for Dunnhumby in January, after announcing a massive cost-cutting overhaul that included selling off various parts of the business. The retailer has also considered selling its South Korean unit as part of the effort to rebuild its balance sheet.
Google and Permira will likely face competition from other potential buyers for Dunnhumby. WPP Group has reportedly mounted a joint bid with General Atlantic Partners, and it is understood that former Tesco executive John Browett has been talking to Apax Partners about buying the data business.