TransUnion Announces Majority Stake in Brazil's Crivo
CHICAGO, IL and SAO PAULO, BRAZIL--(Marketwire - Jan 11, 2012) - TransUnion, a global leader in credit and information services, has acquired a majority stake in Crivo Sistemas em Informática S.A., a leading decisioning and analytics firm. This acquisition marks TransUnion's entrance into the Brazilian market. Financial terms of the deal were not disclosed.
Crivo, through its service offerings, provides its Brazilian customers highly sophisticated and versatile decision-making capabilities. TransUnion is a global credit information and analytics company with operations in the U.S., Canada, Africa, Mexico, Central America and India. The combination of Crivo and TransUnion will create significant value for the Brazilian market, providing a unique source of "actionable data" that will enable clients to adapt and maximize relationships and business processes at every stage in a customer's lifecycle.
"We have long been committed to strengthening our strategic presence in Latin America, and this union with Crivo represents our first foray into the Brazilian market," said Andrew Knight, president of TransUnion International. "TransUnion is in the business of helping to build strong economies around the world through the use of credit information, decisioning and analytics. In this rapidly maturing market, we see great opportunities to expand beyond Crivo's core offerings, providing customers access to a global solutions suite tailored to local needs."
Crivo's proprietary technologies are currently employed in growth industries such as credit, telecommunications, insurance and retail. Both Crivo's market segments and capabilities closely align with TransUnion's growing Latin America and Asia-Pacific presence.
"TransUnion has an international reputation for being a leader in delivering insightful data and risk management tools. Everyone at Crivo is excited to be working side by side with such a well respected global leader," said Daniel Turini, Crivo's general manager. "This union will offer an unrivaled platform on which to expand on our current success and provide a solid foundation on which to build out other service offerings for the benefit of our customers."
As a global leader in information and risk management, TransUnion creates advantages for millions of people around the world by gathering, analyzing and delivering information. For businesses, TransUnion helps improve efficiency, manage risk, reduce costs and increase revenue by delivering high quality data, and integrating advanced analytics and enhanced decision-making capabilities. For consumers, TransUnion provides the tools, resources and education to help manage their credit health and achieve their financial goals. Through these and other efforts, TransUnion is working to build stronger economies worldwide. Founded in 1968 and headquartered in Chicago, TransUnion reaches businesses and consumers in 23 countries around the world. www.transunion.com/business
Crivo is a Brazilian company of software and services of credit, risk and fraud decision, founded in 2000, to serve banks, financial institutions, insurance companies, mobile operators and retailers. The company launched itself with the Crivo credit decision software and has been developing new products over the years. Today, the company provides solutions to meet the need of credit process of companies in several sectors.
For over ten years, customers have trusted Crivo to deliver innovative solutions, analytical skills and specialist software products that enable organizations to increase the speed and quality of their decision-making processes. The company is responsible for one of the biggest decisioning technology software platforms, assisting companies to evaluate the risks and rewards associated with providing credit to consumers and businesses. Crivo's information allows clients to make better informed lending decisions, improving their profitability.
Since its foundation, Crivo stands out by entrepreneurship and technological innovation, winning major awards. Among them, the best of entrepreneurship from Endevor / Exame PME and also Fundação Getúlio Vargas / PEGN. In 2010 Crivo was nominated to the Crunchies Awards in the Best International category. This award is sponsored by Tech Crunch, an American website which recognizes the best start-ups and internet technological innovation.
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