Experian buying ClearScore for £275 million.2-year-old ClearScore offers people credit checks for free in the UK and has over 6 million customers.The deal is the biggest UK tech exit in years and five times bigger than the average exit since 2010.
Credit checking company Experian plans to acquire UK credit startup ClearScore for £275 million ($385 million) in one of the biggest UK tech deals in years. Experian announced plans to acquire to two-year-old London startup on Thursday. Experian CEO Brian Cassin said the deal was part of his company's "strategy to extend the services we provide to UK consumers." The acquisition is subject to approval from the UK's Competition and Markets Authority and regulator the Financial Conduct Authority. If cleared, the takeover represents one of the biggest tech exits in the UK for years and a huge win for the UK's fintech sector. A report last year from innovation consultancy Mind the Bridge found the average UK tech exit since 2010 was $75 million, meaning the ClearScore deal is around five times bigger than average.