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ACCC Approves Experian's Acquisition of illion
Background
On April 4, 2024, Experian Australia announced its intention to acquire Credit Data Solutions Pty Ltd (illion).
The Australian Competition and Consumer Commission (ACCC) reviewed the proposed acquisition and determined that it would not oppose the deal.
ACCC's Decision
The ACCC's decision was based on several factors, including:
- The market share of Experian and illion is relatively small.
- The acquisition would not significantly reduce competition in the market.
- The ACCC believes that the acquisition would benefit consumers by providing them with access to a wider range of credit reporting services.
Benefits of the Acquisition
Experian believes that the acquisition of illion will provide several benefits, including:
- Increased innovation in the credit reporting industry.
- Improved access to credit for consumers.
- Reduced costs for businesses that use credit reporting services.
Next Steps
The acquisition is expected to be completed in the second half of 2024.
Once the acquisition is complete, Experian will be the largest credit reporting bureau in Australia.
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