Experian buys US peer Mighty Net for $208m

BRITISH credit information company Experian has bought US peer Mighty Net for $207.5m (£133m), in a deal which Experian said would consolidate its market leading position in the United States.

Mighty Net, which was founded in 1996, provides online services to US consumers interested in managing their credit behaviour.

As of 30 June 2010, Mighty Net had approximately 680,000 subscribers in the US.

The company, whose brands include the CreditReport.com, CreditScore.com as well as the MyCreditScore.com websites, had 2009 revenues of $115m and earnings before interest and tax (EBIT) of $28m.

Experian said it expected to increase the revenue per member among Mighty Net’s subscriber base and was targeting savings of around $4m from the deal in the year to March 2012 and savings of $5-6m in the following year.