May 30, 2022
CRIF announces agreement to acquire the credit information and management division of Tinexta
Specifically, the transaction involves the sale to CRIF of Tinexta’s holdings in the companies Innolva S.p.A. and ReValuta S.p.A. The division was valued at a total enterprise value of € 237.5 million.
CRIF - a global company specializing in credit and business information systems, analytics, outsourcing and processing services, as well as advanced digital solutions for business development and open banking - announces that it has concluded an agreement for the acquisition from Tinexta (company listed on Euronext Star Milan - Stock ticker: TNXT) of its Credit Information and Management division, which offers business information services and technical and valuation services in the real estate sector.
Specifically, the transaction involves the sale to CRIF of Tinexta’s holdings in the companies Innolva S.p.A. – which offers services to support decision-making processes (Chamber of Commerce and real estate information, aggregated reports, synthetic ratings, decision-making models, credit assessment and recovery) - and ReValuta S.p.A. – which offers real estate services (appraisals and evaluations). The transaction values the division at a total enterprise value of € 237.5 million (for further details, please refer to Tinexta Spa’s press release). The transaction is subject to certain conditions precedent usual for this kind of transactions.
The acquisition is part of a multi-year program of significant investments aimed at the expansion of the CRIF partner ecosystem, aimed at providing the market with increasingly in-depth information and high-performance and innovative solutions.
“Increasingly complex and sophisticated customer requirements, the drive for new technologies and digital, and the globalization of business are making markets increasingly dynamic and competitive. In this context, the acquisition of Innolva and ReValuta represents an important opportunity for CRIF to further consolidate its leadership position in the areas of credit & business information and integrated credit & marketing management services,” commented Carlo Gherardi, Chairman and CEO of CRIF. “For several years now CRIF has been pursuing a growth strategy that has been implemented in part through numerous acquisitions in Italy and at global level, and we will certainly be continuing along this path.”
The aim of the acquisition of Innolva and ReValuta by CRIF is to provide their respective clients with services characterized by the highest quality standards, a comprehensive and accurate set of information, covering the entire target market, as well as a technological capabilities and flexibility to respond promptly to the demands of the market and individual clients. At the same time, the acquisition represents an opportunity based on the coming together of CRIF and Tinexta’s strategies and on the potential for further strengthening their respective market leadership positions.