Experian Buys LowerMyBills.com for $330MExperian came closer to its goal of becoming a serious consumer channel for online transactions with the $330 million purchase of LowerMyBills.com, an Internet mortgage lead generator and the nation's largest online financial services advertiser.
Terms of the deal also call for an additional performance-related earn-out of $50 million over the next two years.
The deal coincides with the launch of the Experian Interactive brand. The new entity combines online credit report and score provider Experian Consumer Direct and Internet pay-for-performance marketing firms MetaReward and Affiliate Fuel with LowerMyBills.com.
Founded in 1999, LowerMyBills.com, Santa Monica, CA, lists more than 400 service providers across 17 categories like home loans, auto and health insurance, credit cards and long distance and wireless services. The company claims to have helped more than 500,000 consumers save nearly $200 million since its launch.
Management and employees at LowerMyBills.com keep their jobs.
Mickey Alam Khan covers Internet marketing campaigns and e-commerce, agency news as well as circulation for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters