Organisations merge to create a single, agile customer-centric business in SA and Africa
Johannesburg, 01 May 2019: Experian today completed its historic acquisition of Compuscan and Scoresharp.
The acquisition is a milestone for driving enhanced innovation, product and service capabilities across the African region and builds on Compuscan’s presence in six Sub-Saharan African countries. The combined Compuscan, Scoresharp and Experian organisation will help spur financial inclusion across the region, bringing more people into the credit economy and helping create a better tomorrow for millions of people.
The acquisition will also extend the services offered to clients of both companies. Compuscan and Scoresharp’s analytics, scores and data quality will further strengthen Experian’s already impressive core bureau data and decisioning software, while Experian’s global technology capabilities and complex Business Information adds depth and breadth to Compuscan and Scoresharp’s services.
In addition, Experian has committed to spend at least R120 million on technological enhancements as part of establishing South Africa as an investment hub.
The acquisition, which effectively doubles the size of Experian’s South African business, follows the announcement of the proposed acquisition on 10 December 2018 and its approval by the South African Competition Commission on 2 April 2019.
Compuscan founder and Chief Executive Remo Lenisa takes on a new role Chief Executive of the joint organisation, alongside a combined leadership team.
Charles Butterworth, managing director of Experian UK&I and EMEA, said: “This is a major achievement for Experian in the South African market and the wider Africa region and demonstrates our commitment to economic development. South Africa is a vital hub for our regional strategy and this acquisition is just one of the investments we’ve made to build our presence here. Together with Compuscan and Scoresharp we are in a position to deliver a new world of opportunities for both our business and our people by expanding both companies’ successes across Africa.”
Remo Lenisa, CEO of Compuscan, said: “It is an exciting opportunity for all as we bring together the best of both organisations to create a single, powerful, customer-centric business. Compuscan and Scoresharp bring analytical scale, relationships and expertise, alongside advanced bureau technology and data quality. Experian brings global experience, technology and innovation, with digital capabilities, machine learning and software. I am excited to carry this forward as we accelerate our planning process in the coming months and bring new innovations to market at a faster scale and enabled by our shared bureau data. In no way will there be negative changes to the quality of data hosted by the combined company. Experian, Compuscan and Scoresharp understand the importance of quality, accurate and reliable data.”