CRIF Spa, present in Switzerland as CRIF AG, has announced the acquisition from Axon Active Holding AG of its subsidiary company Orell Füssli Wirtschaftsinformationen AG (OFWI), known by its brand “Teledata”.

Founded in 1986, pioneering the electronic delivery of information from commercial registers, OFWI Teledata is the market leader in Switzerland for credit and business information, specifically in the financial industry. Moreover, OFWI Teledata provides industry solutions to support credit decisioning processes.

Through this transaction, CRIF AG, the leading provider of risk and address management solutions for trade, utilities and e-commerce in Switzerland, strengthens its position in the Swiss financial industry, through a value proposition tailored to the needs of the financial sector.

“The combination of CRIF and OFWI Teledata brings more added value services to customers, thus strengthening our leading position in the credit industry in Switzerland”, explained Carlo Gherardi, Chairman of CRIF AG and President of CRIF.   “What we have in common with OFWI Teledata is our engagement and strong commitment for innovation and customer satisfaction.  Combining the leading position of OFWI Teledata in business information with CRIF’s richness of consumer and business information, we will be able to offer even more effective risk management solutions.”

“Under the CRIF umbrella, the merged company can focus entirely on its core competencies in credit risk management and extend the offering to its clients”, explained Stefan Muff, Chairman of Axon Active Holding.

“Axon Active will now focus completely on the development and international roll-out of process-oriented decision support solutions for marketing, based on intelligent data networks”, added Stefan Muff. “CRIF AG will become a strategic partner for Axon in Switzerland.”

Source: CRIF Press Release