CHICAGO, Jan. 08, 2025 (GLOBE NEWSWIRE) -- TransUnion (NYSE:TRU) has signed a definitive agreement to acquire U.K.-based Monevo, a credit prequalification and distribution platform that empowers lenders and banks to deliver highly personalized credit offers to consumers via comparison websites and other third parties. TransUnion currently owns 30% of the equity of Monevo after acquiring a minority stake in 2021 and has agreed to acquire the remaining ownership position from Quint Group Limited.

“We are committed to making trust possible in global commerce by ensuring consumers and organizations can transact with confidence,” said Todd Skinner, President, International, TransUnion. “Prequalification is an integral part of the consumer lending process. It drives financial inclusion and responsible lending by helping consumers find more suitable products in less time.”

Monevo enables comparison websites and other online brands known as publishers to embed highly personalized credit offers, predominately in the U.K. and U.S. markets. Working with over 150 banks and credit providers globally, it provides centralized technology and decisioning infrastructure which integrates lenders and publishers, allowing them to deliver better outcomes for consumers searching for credit online. Those consumers are able to see the likelihood of being approved for credit products before applying with lenders, saving time and removing unnecessary searches which potentially adversely impact their credit scores.

“I founded Monevo to improve access to credit for consumers through technology, and today it is powering credit distribution for some of the world's largest banks and lenders,” said Greg Cox, CEO of Quint Group and Monevo. “This acquisition is the natural next step in Monevo's future growth and success, and would unlock new opportunities to innovate by uniting these two complementary businesses, whose values are already strongly aligned.”

Consumers, publishers and lenders all benefit from improved experiences and economics by using Monevo’s platform. Consumers experience a more compelling and personalized online credit shopping experience, receiving highly-tailored offers without impacting their credit score. Publishers gain the tools to win lender trust and delight consumers with more personalized engagement and successfully matched offers, leading to higher conversion rates. Lenders can minimize adverse selection and optimize acquisition costs while delivering an improved consumer experience for their brand.

“Over the last three years, our partnership with Monevo has helped address gaps in the consumer experience. Together, we plan to deliver high-quality offers at scale with minimal support needed from our partners,” said Steve Chaouki, President, U.S. Markets, TransUnion. “Additionally, we continue to make good progress on broadening our value proposition and go-to-market strategy in the direct-to-consumer business and expect to have more to share in the coming quarters.”

The terms of the transaction are not being disclosed. The transaction is expected to be funded with existing cash-on-hand and not to have a material impact on leverage, liquidity or TransUnion’s 2025 operating results. The transaction is expected to close by Q2 2025, subject to the satisfaction of customary closing conditions and regulatory approvals.

About TransUnion (NYSE: TRU)

TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good ® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business

About Monevo

Monevo is a multi-award-winning credit technology business, focused on improving access to credit. Monevo’s next generation platform and API empowers over 150 lenders and banks globally to seamlessly distribute & embed highly personalised credit offers through third party comparison websites and apps. Until completion of the acquisition announced today, Monevo is part of Quint Group. Monevo is headquartered in the UK and currently operates in the UK, US and Australia.

TransUnion Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TransUnion’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Any statements made in this press release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements include information concerning possible or assumed future results of operations, including our guidance and descriptions of our business plans and strategies. These statements often include words such as “anticipate,” “expect,” “guidance,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast,” “outlook,” “potential,” “continues,” “seeks,” “predicts,” or the negatives of these words and other similar expressions.

Factors that could cause actual results to differ materially from those described in the forward-looking statements include: failure to realize the synergies and other benefits expected from the proposed acquisition of Monevo; the risk that required regulatory approvals are not obtained or are obtained subject to conditions that are not anticipated; the failure of any of the closing conditions in the definitive purchase agreement to be satisfied on a timely basis or at all; delay in closing the proposed acquisition; the possibility that the proposed acquisition, including the integration of Monevo, may be more costly to complete than anticipated; business disruption during the pendency of the proposed acquisition and following the acquisition closing; risks related to disruption of management time from ongoing business operations and other opportunities due to the proposed acquisition; the effects of pending and future legislation and regulatory actions and reforms; macroeconomic and industry trends and adverse developments in the debt, consumer credit and financial services markets and other macroeconomic factors beyond TransUnion’s control; risks related to TransUnion’s indebtedness, including our ability to make timely payments of principal and interest and our ability to satisfy covenants in the agreements governing our indebtedness; and other one-time events and other factors that can be found in our Annual Report on Form 10-K for the year ended December 31, 2023, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on TransUnion’s website (www.transunion.com/tru) and on the Securities and Exchange Commission’s website (www.sec.gov). Many of these factors are beyond our control. The forward-looking statements contained in this press release speak only as of the date of this press release. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this press release.

Contact Dave Blumberg

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Telephone 312-972-6646