Founded in 2006, CSID uses its patent-protected technology to access a variety of data and scours the internet in real-time to monitor websites, blogs, bulletin boards and chat rooms to identify the illegal trading and selling of personal information. It provides a range of services, including credit data, to notify consumers of potential abuse of their identities and that their digital identity information is being actively sold or traded on the internet. This helps consumers to take action to protect themselves.
CSID’s clients include information services companies, retailers, financial institutions, insurance companies and other institutions with large customer or membership bases.
Experian’s ProtectMyID product alerts consumers to potential abuse of their identity information when new credit enquiries are made and accounts are opened in their names. CSID enables us to move beyond credit monitoring and enrich our offer to create a superior identity protection service. This two-level approach, using both credit and identity information, means we will proactively inform a consumer that their identification data has been compromised and advise that stolen identity information is actively being used in credit enquiries.
Taking into account the full year revenue from recent contracted client wins, we expect the acquisition of CSID to add annualised incremental revenues of approximately US$120m and EBIT of approximately US$30m for the year ending 31 March 2017. Experian expect to report one-off integration costs of US$8m in the first 12 months.
Brian Cassin, Chief Executive Officer of Experian said: “The acquisition of CSID accelerates execution of our Consumer Services strategy and enables us to address a broader spectrum of the consumer market.”
CSID is being acquired from private equity and other investors, management and employees and will form part of Experian Consumer Services in North America.
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