CRIF to acquire Tinexta's credit information division for €237.5 million
CRIF has agreed to acquire Tinexta S.p.A.'s credit information and management division for an enterprise value of €237.5 million. The deal aims to strengthen CRIF's position in Italy and accelerate its growth strategy.
Information services company CRIF GmbH has reached binding agreements to acquire Tinexta S.p.A.'s credit information and management division. The transaction values the division at an enterprise value of €237.5 million and includes the transfer of Tinexta's stakes in Innolva S.p.A. and ReValuta S.p.A., which provide business information and real estate valuation services.
Tinexta stated that the sale allows for a strategic rebalancing of its business mix, enabling a stronger focus on its digital trust, cybersecurity, and innovation and marketing services. The proceeds from the sale are intended to bolster financial flexibility for future mergers and acquisitions.
CRIF indicated that the acquisition aligns with its strategy to consolidate its business information offering in Italy and accelerate growth through investments in innovative solutions. The company anticipates leveraging synergies with Tinexta's expertise to enhance its service offerings.
The divested division generated €75.4 million in revenue and €22.0 million in adjusted EBITDA in 2021. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in the second half of 2022.