Dublin-based Experian sells Hitwise, Simmons for $51.5m

Information services group Experian, one of the world’s biggest credit checking agencies, has sold two of its analytics divisions in a deal valued at up to $51.5 million.

Traffic measurement firm Hitwise, which was acquired by Experian for $240 million in 2007, has been acquired by the LA-based digital marketing company Connexity. In a simultaneous transaction, Connexity's's private equity parent, Symphony Technology Group has bought Experian's Simmons division.

Terms of the two transactions in aggregate were $47 million plus a further potential amount of up to $5 million based on an earn out.

Dublin-headquartered Experian said it decision to sell the companies as they provided “limited synergies with the group’s core businesses.”

Hitwise and Simmons provide consumer measurement and analytical services. For the 12 months to the end of March, combined revenues for the companies was $74million. The two business lines are to continue to operate as a combined entity, though Connexity and Symphony said they will seek to separate the businesses over the course of 2016.

"These disposals are in line with our strategy to focus our portfolio where we can create synergies and competitive advantage," said Experian chief executive Brian Cassin.

Experian, which is listed on the FTSE-100, employs 16,000 people in 39 countries worldwide. Total revenue for the group for the year ending March 31st was $4.8 billion.