TransUnion Completes Sale of Noddle to Credit Karma
TransUnion (NYSE: TRU) announced today that it has completed the sale of Noddle, the U.K.-based free-for-life credit reporting and monitoring service, to Credit Karma, following approval from the Financial Conduct Authority in the United Kingdom. TransUnion acquired Noddle in 2018 as part of its acquisition of Callcredit, the second largest consumer bureau in the U.K.
“We are pleased to have completed the sale of Noddle to Credit Karma, further to regulatory approval, and we are confident that the business will continue to prosper under new ownership,” said John Danaher, TransUnion’s president of Consumer Interactive. “U.K. consumers will continue to benefit from the free information monitoring and financial health solutions offered through Noddle, and TransUnion will continue to provide Noddle with credit reporting information.”
Credit Karma is a consumer technology company that helps its more than 85 million members in the US and Canada make the most of their money. The company currently offers a range of personal information monitoring and financial health improvement products in the US and Canada that are free for members.
Nichole Mustard, co-founder and chief revenue officer of Credit Karma, added: “Now that the deal has closed, we can get to the real work of championing financial progress for our members in the U.K. To do this, we’re investing heavily in our in-market offering and scaling up significantly. We’re looking to triple the team in the U.K. and open new offices in Leeds and London.”
TransUnion previously announced on November 5, 2018 that it had agreed to sell Noddle to Credit Karma. The sale closed on April 12, 2019.
TransUnion is a leading global risk and information solutions provider to businesses and consumers. The company provides consumer reports, risk scores, analytical services and decisioning capabilities to businesses. Businesses embed its solutions into their process workflows to acquire new customers, assess consumer ability to pay for services, identify cross-selling opportunities, measure and manage debt portfolio risk, collect debt, verify consumer identities and investigate potential fraud. Consumers use its solutions to view their credit profiles and access analytical tools that help them understand and manage their personal information and take precautions against identity theft. www.transunion.com