CRIF, a global company specializing in credit bureau, business information and credit solutions, has announced today the acquisition of 95.14% of shares in Dun & Bradstreet Philippines while the remaining shares are held by DBI (Dun & Bradstreet International, Ltd).
Dun & Bradstreet Philippines has been serving the business information needs of the Philippine market for over a decade, counting among its clients many of the top national corporations as well as several well-known small and medium-sized enterprises (SMEs).
CRIF, which has been Dun & Bradstreet’s partner since 2009 after acquiring its operations in Italy and later in Turkey, the UAE, Egypt and Vietnam, is now expanding the relationship to cover the Philippines. The acquisition will strengthen CRIF’s industry-leading position in the field of business and credit information and risk management solutions in the Association of Southeast Asian Nations (ASEAN) region, thanks to a database containing over 240 million company records derived from 30,000 data sources.
CRIF has been present in the Philippines since 2013 through a commercial office based in Manila, and in the Far East it operates in the Republic of Singapore, Malaysia, China, India, Hong Kong, Vietnam and Taiwan. The acquisition of Dun & Bradstreet Philippines is part of CRIF’s global strategy, with increasing investments over recent years, and the commitment to provide the Southwest Asian market as well as international clients with greater added-value services and products.
The solutions offered by CRIF and its subsidiaries worldwide will make it possible to respond more effectively to the needs of an increasingly demanding market in terms of advanced solutions and IT flexibility.
Moreover, CRIF’s decision support systems and software solutions combined with Dun & Bradstreet’s data and risk management solutions will help global clients optimize existing business processes in a very efficient and innovative way and strengthen relationships with other countries in Asia.
“Everything we do is grounded on helping companies grow their most valuable business relationships through data. Whether it’s to enhance supply chain resilience, mitigate enterprise risk, or accelerate sales – creating opportunities for our customers to achieve sustainable growth is our highest priority. That is why we are excited about joining the CRIF family. The synergies we create through this relationship expands coverage, increases the rate of technology advancement, and enables improved analytics that will ultimately benefit those we value most – our people, customers, and strategic partners” – said Cris Matunan, Executive Vice President and General Manager of Dun & Bradstreet Philippines.
“Our global strategy is built on developing new synergies to strengthen our value proposition and having the best local and global data available to our customers in every market. By combining the strength of CRIF’s resources in Asia with Dun & Bradstreet Philippines’ operations, we will help our clients to grow and innovate by further enriching our cross-market services”, said Carlo Gherardi, President of CRIF.
“CRIF has been operating in the Philippine credit market since 2013 and was granted a Special Accessing Entity license by the Credit Information Corporation (CIC) in 2016. With this acquisition, we reinforce our presence in the region, taking advantage of the country’s positive growth outlook, and we are committed to expanding the breadth of our offering by helping organizations increase profitability thanks to risk management and decision support solutions”, commented Lamberto Barbieri, Asia Managing Director of CRIF.
Source: CRIF Press Release