Cerved and Experian Italy have announced today they are expanding their strategic partnership to address the increasingly complex demands of financial and nonfinancial organisations in Italy. The new agreement strengthens the strategic partnership formed in 2012.
As part of the agreement, Cerved will distribute in Italy, Experian’s analytical software solutions for the banking, insurance and utilities sectors, allowing integrated access to consumer credit and business information. Cerved will be able to distribute Experian’s decision-making software, currently among the most advanced on the market, whilst providing its clients with access to the Credit Information System independently managed and operated by Experian-Cerved Information Services.
Experian will integrate its two business lines in Italy – Experian Decision Analytics and Experian Cerved Information Services – into one single entity (Experian-Cerved Information Services), which will be able to provide its customers with analytics services, consultancy and consumer information services, together with access to Cerved business information services provided through its proprietary Decision Analytics software.
“The market is evolving, and integrated access to data, analytical tools and decision making software is becoming increasingly important” explained Marco Benvenuto, Market President Key Markets EMEA at Experian. “Our partnership with Cerved will help provide Italian companies with simple and integrated access to the entire range of tools and solutions they require”.
“Cerved is a primary provider of business information in Italy” said Gianandrea De Bernardis, CEO of Cerved. “Our partnership with Experian will allow us to provide a complete suite of solutions to our clients. In addition to Credit Information System, Experian possesses very advanced decision analytics tools which when combined with Cerved’s comprehensive and high quality data base, provide real differentiation in the market”.
The prior shareholder agreement between Cerved and Experian will be amended in order to remove the purchase options on the share capital of Experian-Cerved Information Services, in favor of Experian Holding SpA Italy and Cerved Group SpA. The rules of governance will be also revised in order to respond to the changed corporate structure. The partnership agreement, which is assumed to become effective in the first weeks of 2016, is subject to compliance with the due process of law in the antitrust field, [to this end it will be notified in the coming days to the European Commission], and to compliance with the procedure provided for by the trade unions. 47 of Law no. 428/90.
Source: Cerved – Experian Press Release